US investment firm BBX Capital has announced the acquisition of Kencraft Candy, under its BBX Sweet Holdings subsidiary.
Kencraft Candy, established in 1969, manufactures a number of products including their Lollipops, LolliKits, LolliLetters, Candy Sticks, Candy Canes, Bubblegum Buddies, Royal Icing Decorations, and Panoramic Sugar Easter Eggs.
"As we focus on continuing to extend our reach into the confections industry, the acquisition of Kencraft Candy is a great strategic fit and expands our unique and growing number of product offerings in the confectionery category," said Jarett Levan, president of BBX Capital and CEO of BBX Sweet Holdings.
"Today’s acquisition of Kencraft Candy provides us with the ability to deliver more product choices to our customers and consumers."
Justin Boyle will continue his role as president of Kencraft Candy. "Combining our manufacturing capabilities and facility with BBX Sweet Holdings sales and distribution network will position Kencraft Candy for the future," said Boyle. "I am very excited to be a part of the BBX Sweet Holdings family and excited about the opportunities and resources that BBX Capital brings to Kencraft Candy."
Last year, BBX Sweet Holdings announced a string of acquisitions across the US including Anastasia Confections, Helen Grace Chocolates, Hoffman's Chocolates, Jer’s Chocolates, The Toffee Box, and Williams & Bennett.