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 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."
From the June 19, 2012, Prepared Foods Daily News