DeMet's Candy Acquires Treasures, Stixx Brands from Nestle
Published in CSP Daily News
Products appeal to segments it currently does not serve
GREENWICH, Conn. -- DeMet's Candy Co. has announced that it has completed the acquisition of the Treasures and Stixx confectionery brands from Nestle USA Inc. DeMet's will merge these two brands into its existing portfolio of confectionary products after a short transition period with Nestle.
"DeMet's is pleased to welcome the Treasures and Stixx brands to its family of confectionary products," said David Clarke, president and CEO of DeMet's Candy. "The Treasures and Stixx brands are both innovative and high-quality products. They are an excellent addition to our existing [image-nocss] base business and we plan to expand these well known brands into new formats and flavor profiles in the near future."
James Gerbo, senior vice president of marketing, added, "The Treasures and Stixx brands will enable us to reach a broader consumer base. These products appeal to segments within the category that we currently do not serve."
DeMet's currently markets the Turtles and Flipz brands and is headquartered in Stamford, Conn. DeMet's is owned by Greenwich, Conn.-based Brynwood Partners.
Founded in 1984, Brynwood Partners is a private-equity fund which invests in lower-middle market companies over a long-term horizon targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood Partners have made investments in 22 portfolio companies and have successfully partnered with management to grow their businesses through the financial and operating support that Brynwood Partners provides.