USA – Edward Marc Brands, a US-based chocolate producer, has merged into the confectionery portfolio of Promise Holdings’ Promise Collections, a local investor.
The Pittsburgh-headquartered business will join Annabelle’s Candy, Pearson’s Candy, and Seattle Gourmet Foods in the portfolio.
Michael McGee, the current CEO of Edward Marc Brands, will also assume the role of chief executive at the combined group.
While financial details of the transaction were not disclosed, the merger aims to create a competitive portfolio that promises an unparalleled confectionery experience.
The companies intend to position themselves as leaders in the confectionery and snack industries.
Gordon C.C. Liao and Jacqueline Brooks, founders and managing partners of Promise Holdings, stated that the merger aligns seamlessly with their vision of a stronger, more innovative, creative, and forward-thinking company.
Edward Marc Brands’ Edward Marc Chocolatier subsidiary manufactures the Snappers and Almonds chocolate product lines, as well as bakery and deli products.
Promise Holdings is a private investment firm primarily focused on the consumer industry.
Pearson’s Candy Company, based in Minnesota, manufactures confectionery products such as Salted Nut Roll, Mint Patties, Nut Goodie, and Bun.
Annabelle Candy Company, headquartered in Hayward, California, produces brands like Abba-Zaba, Rocky Road, Big Hunk, U-No, and Look! Seattle Gourmet Foods, based in Kent, Washington, manufactures Dilettante Chocolates and Myntz.
Private equity firm Citation acquires majority stake in US snack business Cibo Vita
Meanwhile, US-based healthy snacks business Cibo Vita has announced that Citation Capital has become a majority shareholder in the company.
While financial details were not disclosed, Cibo Vita stated that the deal would advance the company’s growth trajectory.
Citation Capital is Cibo Vita’s first outside shareholder, and the business’s co-founders, Emre Imamoglu and Ahmet Celik, will continue to hold a significant ownership interest.
Launched in 2009, Cibo Vita is known for its flagship brand, Nature’s Garden, offering snack mixes, trail mixes, and dried fruits.
The company is headquartered in Totowa, New Jersey, with three manufacturing facilities and over 900 employees.
Emre Imamoglu, CEO of Cibo Vita, expressed the company’s vision of bringing healthier snacking options to families and finding a strategic partner aligned with their core values.
Additionally, Tiffany Hagge, founder and managing partner of Citation, highlighted Cibo Vita’s exceptional culture and shared values and their investment philosophy to support strong, defensible businesses to become best in class through strategic partnership and operational excellence.
This acquisition aims to positions Cibo Vita for continued growth and innovation in the healthy snack market, as it leverages the resources and expertise of its new majority shareholder, Citation Capital.
