Parmalat Dairy & Bakery Inc. announced that it has sold the company's North American Bakery Group which includes the Archway brands, Mother's brands and the U.S. and Canadian private label cookie businesses to the private equity firm Catterton Partners and their operating partner Insight Holdings. Terms were not disclosed.

Under this agreement, the U.S. bakery name will change to the "Archway & Mother's Cookie Company Inc.," and the Canadian bakery will be known as "A&M Cookie Company Canada," with Catterton Partners and Insight Holdings leveraging their strong industry expertise to provide the bakery management team with marketing and operational strategies targeted at building sales and long-term profit.