Brynwood Acquires Bit-O-Honey
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Brynwood Acquires Bit-O-Honey

Pearson Candy Company, a portfolio company of Brynwood Partners, has acquired the Bit-O-Honey confectionery brand from Nestle USA. This acquisition marks the fifth brand that Brynwood Partners has acquired from Nestle. Brynwood acquired Pearson Candy in August 2011.

Bit-O-Honey is a national brand with a 90-year history with U.S. consumers. Bit-O-Honey is available in a variety of formats and is widely distributed in the U.S. through retailers in the food, drug, mass and dollar channels. Bit-O-Honey was acquired by Nestle USA in 1984.

“We are excited to announce the acquisition of the Bit-O-Honey brand,” said Michael Keller, President and CEO of Pearson’s. “We plan to bring renewed focus to the Bit-O-Honey brand by increasing its availability to consumers and by offering customers new and innovative Bit-O-Honey products.”
Pearson Candy Company is a manufacturer and marketer of Pearson’s Salted Nut Roll, Pearson’s Mint Patties, Pearson’s Nut Goodies, and Pearson’s Bun confectionery brands. The company is based in St. Paul (www.pearsonscandy.com).

“The acquisition of Bit-O-Honey will complement our strong Pearson’s business. While management continues to focus on product innovation and expanding the company’s geographic reach, the Bit-O-Honey brand has strong national awareness. We feel this acquisition will be a conduit to expand the reach of all of Pearson’s brands throughout the U.S.,” said Henk Hartong III, Senior Managing Partner of Brynwood and Chairman of Pearson’s.

Brynwood Partners has developed a niche in the corporate carve out sector. In its 29-year history, the firm has acquired 37 corporate brands from 14 different corporate sellers, including the Bit-O-Honey acquisition. Since January 2011, the firm has completed the acquisition of 23 corporate brands in 10 separate transactions.

Brynwood Partners is an operationally-focused private equity firm that makes control investments in lower middle market companies. Sectors of interest include consumer products, light manufacturing with low capital intensity, and business services. Brynwood Partners has $500 million of capital under management. The firm was founded in 1984 and is based in Greenwich, CT (www.brynwoodpartners.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 5-2-13

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