HERSHEY, PA - Hershey Foods Corp. announced that it has entered into a definitive agreement for the sale of a group of its gum brands to Farley's & Sathers Candy Co., Inc. Included in the transaction, terms of which were not disclosed, are "Fruit Stripe" chewing gum, "Rain-Blo" gumballs and "Super Bubble" bubble gum brands.
In addition to Hershey's popular chocolates and non-chocolate confections, the company is a market leader in the gum and mint category with such well-known brands as "Ice Breakers," "Breath Savers" and "Bubble Yum."
Farley's & Sathers Candy Co., Inc., a portfolio company of Catterton Partners, is a leading manufacturer and marketer of non-chocolate confectionery products. Its brands include "Jujyfruits," "Red Hot Dollars," "Chuckles" and "Now and Later," among others.
With more than $1 billion in equity capital, Catterton Partners is one of the largest private equity firms in the U.S., focusing on providing growth equity capital in consumer industries.