ROUND LAKE, Minn. & FOREST PARK, Ill. -- Farley's & Sathers Candy Co. Inc. and Ferrara Pan Candy Co. Inc. said that they have completed their previously announced merger. The combined company, which will be called Ferrara Candy Co. Inc., will be a leading general line candy manufacturer.
Salvatore Ferrara II, chairman and CEO of the new Ferrara Candy, said, "We are pleased to complete the transaction, which creates a leader in our category. The new Ferrara Candy Co. will offer a robust portfolio of branded and private-label confections that consumers love, from Lemonheads and Red Hots to Trolli, Brach's and Now and Later."
He added, "Together, we are entering an exciting new chapter that will allow us to delight our customers with the same great products they know and love, while continuing to innovate our offerings. I want to thank the hard working employees of both companies for their support throughout this process and together, I am confident we will reach new heights."
Catterton Partners, a leading consumer-focused private-equity firm, which owns Farley's & Sathers, will remain as a majority investor in the combined company.
"This transaction brings together the best products and people in the industry," said Scott Dahnke, managing partner of Catterton Partners. "The combination will leverage Ferrara Pan's and Farley's & Sathers' combined portfolio of iconic brands, collective knowledge and expertise, and broad supply chain to create a powerhouse in confections. As shareholders, we look forward to the significant upside that will result through this compelling combination."
Since its inception on Feb. 20, 2002, Farley's & Sathers Candy has become one of the top 25 manufacturers of confections in the world. Based in Round Lake, Minn., it is a leading manufacturer and distributor of quality confectionery and gum products.. Farley's & Sathers has developed its business both through internal growth and through the acquisitions of confectionery brands, including Farley's, Sathers, Heide, Jujyfruits, Now and Later, Bobs, Sweet Stripes, Super Bubble, Fruit Stripe, Rain-Blo, Trolli, Chuckles and Brach's.
Ferrara Pan Candy was founded by Salvatore Ferrara in 1908 and began as a manufacturer of Italian pastries and sugar coated candy almonds. In 1919, Salvatore Ferrara, Salvatore Buffardi and Anello Pagano, brothers-in-law, formed a partnership to engage in the manufacturing of a wide variety of confections and the same families continue to own and manage the company today. It manufactures both branded and private-label confections including Lemonheads, Red Hots and Black Forest gummies.
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