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Spell Capital Acquires Pearsons Candy

ST. PAUL, MN -- Spell Capital Partners LLC, a Minneapolis-based private equity company, has acquired St. Paul-based Pearson's Candy Co. from Brynwood Partners Management LLC. Terms of the sale were not disclosed. Pearson's, based in St. Paul, MN, was founded as a confectionery distribution company in 1909. In 1912, the company began manufacturing the Nut Goodie Bar. In 1933, it introduced the iconic Salted Nut Roll. The company purchased the Trudeau Candy Co. in 1951. In 1969, the Pearson family s...

December 10, 2018

ST. PAUL, MN -- Spell Capital Partners LLC, a Minneapolis-based private equity company, has acquired St. Paul-based Pearson's Candy Co. from Brynwood Partners Management LLC. Terms of the sale were not disclosed.
 
Pearson's, based in St. Paul, MN, was founded as a confectionery distribution company in 1909. In 1912, the company began manufacturing the Nut Goodie Bar. In 1933, it introduced the iconic Salted Nut Roll. The company purchased the Trudeau Candy Co. in 1951. In 1969, the Pearson family sold the company to ITT/Continental Baking, which sold it to the Confections Group in 1979.
 
In 1985, two Pearson employees purchased the company. They sold the company to private-equity firm Brynwood Partners in 2011.
 
In addition to Nut Goodie Bar and Salted Nut Roll, Pearson's brands include Mint Patties, Coconut Patties, Bun Bar and Bit-O-Honey, a brand purchased from Nestle in 2013. Several of Pearson's products are regional, while others have national and international distribution.

Pearson's launched 7th Street Confections in 2016, its first new brand since 1933, to cater to health-conscious consumers. The company had revenue of $89 million in fiscal 2018.
 
Spell Capital said Pearson's management team will remain in place. It intends to modernize Pearson's manufacturing plant, which was built in 1959. Pearson's has about 200 employees.