US confectionery firm Archibald Candy has confirmed that, as part of a review of strategic alternatives, it is in negotiations for the sale of its Fannie May and Fanny Farmer candy businesses.
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The company said it is in final negotiations concerning a potential sale of those businesses and expects to announce a transaction in the near future.
“As we began this process it was our hope that we might be able to sell the businesses intact, including the Chicago manufacturing plant. However, it is apparent based on our analysis of operational alternatives and discussions with prospective buyers that the nearly 70-year-old facility on West Jackson Boulevard is not viable for cost- competitive production and will not be among the assets acquired,” said Rick Anglin, chief financial officer.
The Chicago manufacturing facility will therefore cease production and be closed, the company said.
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