US-based chocolate producer Edward Marc Brands has merged into local investor Private Holdings’ Promise Collections confectionery portfolio.
The Pittsburgh-headquartered business will join three peers – Annabelle’s Candy, Pearson’s Candy,and Seattle Gourmet Foods – in the vehicle.
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Michael McGee, current CEO of Edward Marc Brands, will take on the role of chief executive at the enlarged grouping.
Financial details of the transaction have not been disclosed.
The rationale of the deal is to create a competitive portfolio that “promises an unparalleled confectionery experience”. The companies’ aim to “position [themselves] as leaders in the confectionery and snack industries.”
“The merger aligns seamlessly with Promise Holdings’ vision of a stronger, more innovative, creative, and forward-thinking company,” said Gordon C.C. Liao and Jacqueline Brooks, founders and managing partners of Promise Holdings.
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By GlobalData“As Promise Confections embraces this transformative merger, we eagerly anticipate the infusion of Edward Marc Brands’ leadership, and we look forward to crafting a prosperous legacy together.”
The chocolate producer said in a statement, “Promise Confections stands stronger today, uniting a high-quality, geographically diverse manufacturing network across multiple confectionery platforms, alongside a fast-growing innovation powerhouse”.
With the executive leadership team from Edward Marc joining the leaders at Promise Confections, the acquirer is aiming to ensure a “seamless integration of expertise, service, creative vision,” with “strategic direction to drive enterprise success”.
McGee said, “Bringing together four dynamic companies, each with unique strengths and resources, we are confident that this partnership will pave the way for a prosperous and mutually beneficial future”.
Edward Marc Brands’ Edward Marc Chocolatier subsidiary makes the Snappers and Almonds chocolate product lines. The business manufactures bakery and deli products as well.
Promise Holdings is a private investment firm that invests in and helps operate early and late-stage businesses, primarily in the consumer industry.
Pearson’s Candy Company is a Minnesota-based confectionery producer. Its portfolio includes Salted Nut Roll, Mint Patties, Nut Goodie, and Bun.
Annabelle Candy Company manufactures Abba-Zaba, Rocky Road, Big Hunk, U-No, and ‘Look!’. It’s headquartered in Hayward, California.
Seattle Gourmet Foods produces Dilettante Chocolates and ‘Myntz!’. The company is based in Kent, in Washington state.
