Ferrara Pan and Farley's & Sathers combine
The merger between Farley's & Sathers and Ferrara Pan has been completed.
A merger between two candy companies has been completed.
Ferrara Pan has now combined with Farley's & Sathers to create a new general-line enterprise called Ferrara Candy Company, following business discussions and contract negotiations between the brands.
Private equity firm Catterton Partners will be a majority investor in the tied-up business.
This organisation provides capital to consumer-focused brands in North America and has operated since 1989.
It combines an industry network, investment finances, operating and strategic skills to become what the firm claims is one of the sectors "most sought-after" private equity enterprises.
Chief executive officer and chairman of Ferrara Candy Company Salvatore Ferrara said: "We are pleased to complete the transaction, which creates a leader in our category."
Members of the public will be offered a "robust portfolio" of products, including Now and Later, Brach's, Trolli, Red Hors and Lemonheads, he argued, pointing out customers "love" these items.
Catterton Partners managing partner Scott Dahnke said the deal "brings together the best products and people in the industry".
Posted by Edel Quinn
Source: Joint press release, June 18th