US confectionery firm Topps Co has announced that discussions regarding the acquisition of certain brands from Foreign Candy Co have ended.
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“No transaction is contemplated between the parties,” Topps said in a statement.
On 10 September, New York-based Topps said it had signed a letter of intent to acquire certain brands from Foreign Candy, a closely held company based in Iowa, reported Reuters.
Topps is a creator and marketer of confectionery and entertainment products, with brands including Ring Pop and Push Pop lollipops and Bazooka bubble gum. The company also makes trading cards, sticker and album collections, and collectible games.
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