Acquired by TowerBrook in 2009, Wilton Brands manufacturers and distributes ingredients, bakeware, and decorating equipment for consumers in the US market.
The company and its employees will remain headquartered in Naperville, Illinois, and will operate as an independent unit within Dr Oetker’s portfolio of brands.
Wilton Brand’s CEO Sue Buchta will also retain her position.
Dr Oetker said that the acquisition will help strengthen its position in the growing baking market in the US.
“The acquisition of Wilton means the expansion of our position in the large and interesting U.S. market for baking and decorating,” said Dr Albert Christmann, Chairman of the Board of Management of Dr Oetker.
“For American consumers, the Wilton brand has been synonymous with home baking and the creative decorating of cakes, pies and baked goods for almost 90 years.
"With its product portfolio and strong brand, Wilton fits well with Dr Oetker. Wilton also is very progressively positioned in terms of the use of digital brand management. Dr Oetker’s entire organization will benefit from this expertise.”
Wilton CEO Sue Buchta added: "I could not imagine a better owner for Wilton Brands. The opportunity to draw on both companies' strengths, combined knowledge and commitment to the category will position us to innovate and grow more quickly, benefiting our customers, our retail partners and our employees."
The acquisiton is set to be completed by the end of the year.