Farley's & Sathers and Ferrara Pan Merge
06/18/2012 – Farley's & Sathers Candy Company, Inc. ("Farley's & Sathers") and Ferrara Pan Candy Company, Inc. ("Ferrara Pan") today announced that they have completed their previously announced merger. The combined company, which will be called Ferrara Candy Company, Inc., will be a leading general line candy manufacturer.
Salvatore Ferrara II, Chairman and CEO of Ferrara Candy Company, Inc., said, "We are pleased to complete the transaction, which creates a leader in our category. The new Ferrara Candy Company 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®. 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, the 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."
In just over a decade Farley's & Sathers Candy Company, Inc. has become one of the top 25 manufacturers of confections in the world. Headquartered in Round Lake, Minnesota, Farley's & Sathers Candy Company, Inc. is a leading manufacturer and distributor of quality confectionery and gum products.
Ferrara Pan Candy Company 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 Ferrara Pan Candy Company today. The company is well known within the industry as being a world class leader in manufacturing and processing.
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