Demets Candy News

DeMet’s Candy opens new production facility in New York

ryanjenns — Wed, 06 May 2009 17:13:31 +0000

Despite the struggling economy, DeMet’s Candy Co. has made plans to open a new, state-of-the-art production facility in Big Flats, N.Y. The 100,000-sq.-ft. facility will house all candy making operations for the TURTLES brand, including enrobing, caramel making, packaging and warehousing, while creating 80-100 full-time jobs and 50-100 seasonal jobs.
The new facility will allow DeMet’s to produce more than 20 million pounds of product annually. Thanks to the added space, the company plans to introduce more seasonal items in the TURTLES line.

Previously, TURTLES were being produced in the company’s facility in Ontario, Canada. The new facility encompasses the production of TURTLES products along with a handful of FLIPZ chocolate-covered pretzels products.

“We knew when we acquired the TURTLES brand in 2007 that we would have to update the capabilities of our facility in Canada,” said Henk Hartong III, chairman of DeMet’s Candy. “When we took a step back and looked at the big picture, we realized it made more business sense to build a new facility in the U.S. rather than trying to work within the constraints of our old facility.”

DeMet’s Candy Co. owns the TURTLES, FLIPZ, TREASURES and STIXX brands. The company is privately held by private equity fund Brynwood Partners.

DeMet’s Candy Company Acquires the TREASURES and STIXX Brands from Nestle

ryanjenns — Mon, 01 Dec 2008 17:10:16 +0000

GREENWICH, Conn., Dec. 1 /PRNewswire/ — DeMet’s Candy Company announced today 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 currently markets the TURTLES(R) and FLIPZ(R) brands and is headquartered in Stamford, CT. DeMet’s is owned by Greenwich, CT based Brynwood Partners.

“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 Company. “The TREASURES and STIXX brands are both innovative and high quality products. They are an excellent addition to our existing base business and we plan to expand these well known brands into new formats and flavor profiles in the near future.”

“The TREASURES and STIXX brands will enable us to reach a broader consumer base,” said James Gerbo, Senior Vice President, Marketing. “These products appeal to segments within the category that we currently do not serve.”

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 uniquely provides.

SOURCE Brynwood Partners Henk Hartong III, +1-203-622-1790, hhartong@brynwoodpartners.com, for Brynwood Partners; David Clarke, +1-203-321-4703, dclarke@demetscandy.com, for DeMet’s
Candy Company.

Brynwood Partners V L.P. Acquires Turtles® Brand from Nestlé

ryanjenns — Thu, 24 May 2007 17:30:24 +0000

GREENWICH, CT — May 24, 2007 — Brynwood Partners V L.P. announced today that it has signed a definitive purchase agreement to acquire the Turtles® confectionery brand from Nestlé USA, Inc., through a newly formed company, DeMet’s Candy Company. The acquisition is expected to close by June 1, 2007. Brynwood Partners will also acquire the Turtles® production facility in Toronto, Canada from Nestlé Canada in a separate transaction and will merge this manufacturing facility into DeMet’s. Brynwood Partners is only purchasing the United States rights to the Turtles® brand. DeMet’s will manufacture Turtles® in the Canadian facility to supply the United States business and will continue to supply Turtles® and selected other products to Nestlé Canada through a long-term supply contract.
DeMet’s will market Turtles® in the United States. Brynwood Partners intends to merge another of its operating companies, Signature Snacks Company, the producers of Flipz® coated pretzels, with DeMet’s and integrate both product lines into a combined confectionery company.

Brynwood Partners announced that David D. Clarke will be appointed to the position of President and CEO of DeMet’s Candy Company. Mr. Clarke had previously served as the President and COO of Signature Snacks. Brynwood Partners announced that it will retain the management team of Signature Snacks to run the newly formed DeMet’s Candy Company. James Gerbo will be the Senior VP of Marketing and Scott Hilley will be the CFO. Brynwood Partners has recruited Gary Parsons to serve as the VP of Sales. Henk Hartong III, Managing Partner, Brynwood Partners, will serve as the DeMet’s Chairman.

“Brynwood Partners is very excited about the acquisition of the famous Turtles® brand and the reintroduction of the storied DeMet’s name to the candy business,” said Mr. Hartong. “We have a successful track record in the food space and specialization in the confectionary area. Revitalizing undervalued brands through rigorous operational focus and strong marketing initiatives has been a key component of Brynwood Partners’ success. This acquisition, combined with our already successful investment in Flipz®, will offer us continued and significant growth opportunities.” Brynwood Partners also owns the Stella D’oro Biscuit Company, Inc. and Richelieu Foods, Inc., a leading supplier of private label salad dressing and frozen pizza.

“Turtles® is a wonderful brand and an indulgent chocolate treat,” said Mr. Clarke. “The combination of Turtles® and Flipz® under DeMet’s will create a national, full line chocolate company. The combined product lines will allow us to become a much more significant supplier to our retail customers.”
For more than 100 years, Turtles® has been marketed as an irresistible combination of rich chocolate, caramel & premium nuts. Flipz® is the market share leader in confectionery coated pretzels in the United States. DeMet’s Candy Company will be located in Stamford, CT at 30 Buxton Farm Road.

Founded in 1984, Brynwood Partners is a private equity fund which makes control investments in lower middle market companies targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood Partners have made investments in 21 portfolio companies and have successfully partnered with management to grow businesses through the financial and operating support that Brynwood Partners uniquely provides.