FOREST PARK, IL -- Ferrara Pan Candy and Farley’s & Sathers Candy Co. (Round Lake, MN) have announced a definitive merger agreement. Under the pact, the two companies will unite to form a leading general-line candy producer. The transaction remains subject to applicable regulatory approval and satisfaction of other customary closing conditions, and its terms were not disclosed.
The combined company, to be called Ferrara Candy Co., will be led by Salvatore Ferrara II, present chairman and chief executive of Ferrara Pan Candy.
Farley’s and Sathers produces such well-known lines as Brach’s, Chuckles, Jujyfruits, Now and Later and Trolli. Ferrara Pan Candy, a longtime supplier of popular bulk vending confections, manufactures both branded and private-label confections. Its principal lines include Atomic Fireballs, Black Forest, Boston Baked Beans, Lemonheads and Red Hots.
"This transaction brings together two well-positioned candy companies with iconic brands and loyal consumer and customer followings to create a category leader," Ferrara said. "Farley’s & Sathers has significant expertise in confections and a strong portfolio of brands that connect with consumers, and both companies have outstanding teams of hard-working employees."
Catterton Partners (Greenwich, CT), a major consumer-focused private equity firm that owned Farley’s & Sathers, reported that it will remain a majority investor in the combined company.