Pearson Candy scores Bit-O-Honey from Nestle
GREENWICH, Conn. — Brynwood Partners’ portfolio company, Pearson Candy Company, has acquired the Bit-O-Honey confectionery brand from Nestle. The acquisition marks the fifth brand Brynwood Partners has acquired from Nestle. Terms and conditions of the transaction were not disclosed.
The Bit-O-Honey national brand has been around for more than 90 years and is available in a variety of formats, which are widely distributed in the U.S. through leading retailers in the food, drug, mass and dollar channels.
"We are excited to announce the acquisition of the Bit-O-Honey brand," said Michael Keller, president and CEO of Pearson's. "We look forward to adding the brand into Pearson's, which is known for its Pearson's Salted Nut Roll, Pearson's Mint Patties, Pearson's Nut Goodies and Pearson's Bun. 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."
In its 29-year history, Brynwood Partners has acquired 37 corporate brands from 14 different corporate sellers. Since January 2011, the firm has successfully completed the acquisition of 23 corporate brands in 10 separate transactions.
Brynwood Partners currently manages more than $500 million of private equity capital for its limited partners who include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions.