Private-equity firm Acon Investments has bought a controlling stake in US confectionery company YumEarth.
In a statement yesterday (30 June), Acon said the transaction was backed by Spain-based confectioner The Fini Company as a “strategic industry partner”.
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Fini has acquired an unspecified stake in YumEarth. The financial terms of the deal were not disclosed.
Acon and Fini have bought YumEarth from US investment firm The Riverside Company.
Founded in 2007, YumEarth sells organic confectionery. Its products were described in the statement as containing “no artificial dyes or high-fructose corn syrup” and free from gluten and “top nine allergens”.
The company’s product range includes gummies and chewy candy, lollipops, fruit snacks and sour products. The firm sells online and through around 30,000 retail outlets, including Target, Whole Foods and Walmart.
Fini CEO Manolo Sánchez said: “YumEarth is an exceptional brand with a strong purpose, high-quality products and meaningful growth potential.”
Anjali Jolly, managing partner at Acon, said YumEarth had “a differentiated brand with a loyal consumer following at the intersection of several powerful consumer trends”.
She added: “We believe our partnership with Fini will provide valuable resources to help unlock the company’s full potential.”
Fini sells confectionery under its namesake brand. The company also markets the Dr. Good brand, a vitamin-supplement line sold in Brazil. The business is a major producer of gummy, marshmallow and liquorice sweets.
YumEarth CEO Steve Van Tassel said: “With Acon’s experience supporting consumer brands and Fini’s deep confectionery expertise, we are well-positioned to expand our reach, strengthen our innovation pipeline and bring YumEarth to even more families.”
Earlier this year, Fini acquired German confectionery distributor Tri D’Aix, following more than 30 years of “close collaboration” with the family-owned company.
