HSY has had a good run since I sold. Maybe that can start by buying privately held companies such as Just Born-maker of Peeps (based in PA)or something from private equity. Tootsie Roll Industries Inc. (TR) is still very expensive even though it's come down in price. Have to go overseas because there aren't many public candy companies left to buy. Sweet snacks, I'll be looking.
Hershey to Make Acquisitions Priority for Use of Cash, CEO Says
By Duane D. Stanford - Jun 25, 2012 11:15 AM ET
Hershey Co. (HSY) Chief Executive Officer John P. Bilbrey said acquisitions will be the priority for the chocolate maker’s cash as the company looks to take confectionery-market share in North America and expand abroad.
The company sees $10 billion in potential local and regional acquisitions across the globe, Chief Growth Officer Michele Buck said today during an investor meeting in New York that was webcast. Including other categories such as sweet snacks, acquisition opportunities total as much as $30 billion, Buck said.
Hershey is seeking to surpass Mars Inc. to become the largest confectionery company in North America. The 2008 purchase of Wm. Wrigley Jr. Co. by Mars created the world’s biggest candy maker. Hershey is tarketing China to be its second-largest market, after the U.S., within five years as it strives to boost revenue to $10 billion. Last year, Hershey had sales of $6.1 billion. The company also sees significant opportunity in India.
The Hershey, Pennsylvania-based chocolate maker passed on a chance to buy Cadbury Plc in 2010. Kraft Foods Inc. (KFT) purchased Cadbury that year. Hershey had $567.3 million in cash and equivalents on April 1, according to data compiled by Bloomberg.
Hershey fell 0.5 percent to $69.18 at 11:01 a.m. in New York. The shares had risen 12 percent this year through June 22.
bloomberg.com
Farley's & Sathers and Ferrara Pan Complete Merger
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By Farley's & Sathers Candy Company, Inc.; Ferrara Pan Candy Company, Inc.
Published: Monday, Jun. 18, 2012 - 6:05 pm
ROUND LAKE, Minn. and FOREST PARK, Ill., June 18, 2012 -- /PRNewswire/ -- Farley's & Sathers Candy Company, Inc. ("Farley's & Sathers") and Ferrara Pan Candy Company, Inc. ("Ferrara Pan") today announced that they have completed their previously announced merger. The combined company, which will be called Ferrara Candy Company, Inc., will be a leading general line candy manufacturer.
Salvatore Ferrara II, Chairman and CEO of Ferrara Candy Company, Inc., said, "We are pleased to complete the transaction, which creates a leader in our category. The new Ferrara Candy Company will offer a robust portfolio of branded and private label confections that consumers love, from Lemonheads® and Red Hots® to Trolli®, Brach's® and Now and Later®. Together, we are entering an exciting new chapter that will allow us to delight our customers with the same great products they know and love, while continuing to innovate our offerings. I want to thank the hard working employees of both companies for their support throughout this process and together, I am confident we will reach new heights."
Catterton Partners, the leading consumer-focused private equity firm, which owns Farley's & Sathers, will remain as a majority investor in the combined company.
"This transaction brings together the best products and people in the industry," said Scott Dahnke, Managing Partner of Catterton Partners. "The combination will leverage Ferrara Pan's and Farley's & Sathers' combined portfolio of iconic brands, collective knowledge and expertise, and broad supply chain to create a powerhouse in confections. As shareholders, we look forward to the significant upside that will result through this compelling combination."
About Farley's & Sathers
Since its inception on February 20, 2002, Farley's & Sathers Candy Company, Inc. has become one of the top 25 manufacturers of confections in the world. Headquartered in Round Lake, Minnesota, Farley's & Sathers Candy Company, Inc. is a leading manufacturer and distributor of quality confectionery and gum products, offering full line, full service opportunities to all classes of trade in the United States. The company's success in the industry, experience with acquisitions, and significant capital resources established Farley's & Sathers Candy Company as a leader in the confection industry. Farley's & Sathers Candy Company has developed its business both through internal growth and through the acquisitions of famous confectionery brands, including FARLEY'S®, SATHERS®, HEIDE®, JUJYFRUITS®, NOW AND LATER®, BOBS®, SWEET STRIPES®, SUPER BUBBLE®, FRUIT STRIPE®, RAIN-BLO®, TROLLI®, CHUCKLES®, AND BRACH'S®. For a complete list of our famous brands, check out our legal section under "All about Farley's & Sathers" at www.farleysandsathers.com.
About Ferrara Pan Candy Company
Ferrara Pan Candy Company was founded by Salvatore Ferrara in 1908 and began as a manufacturer of Italian pastries and sugar coated candy almonds. In 1919, Salvatore Ferrara, Salvatore Buffardi and Anello Pagano, brothers-in-law, formed a partnership to engage in the manufacturing of a wide variety of confections and the same families continue to own and manage the Ferrara Pan Candy Company today. The company is well known within the industry as being a world class leader in manufacturing and processing. Using the very finest, pure, wholesome ingredients, Ferrara Pan manufactures both branded and private label confections that consumers love, including Lemonheads®, Red Hots® and Black Forest® gummies. For more information, please visit the company's website, www.ferrarapan.com.
About Catterton Partners
With more than $2.5 billion currently under management and a twenty-three year track record of success in building high growth companies, Catterton Partners is the leading consumer-focused private equity firm. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market consumer industry. Catterton Partners invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton's investments include: Restoration Hardware, Cheddar's and Noodles restaurants, Frederic Fekkai, Build-A-Bear Workshop, Kettle Foods, Odwalla and P.F. Chang's China Bistro. More information about Catterton Partners can be found at cpequity.com.
http://www.sacbee.com/2012/06/18/4571707/farleys-sathers-and-ferrara-pan.html
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