Yildiz Holding, the owner of premium chocolate brand Godiva, is to acquire US confectioner DeMet’s Candy Co. from its private-equity owners for US$221m.
DeMet’s Candy was formed by private-equity firm Brynwood Partners in 2007. The company’s portfolio, including the brands Turtles, Treasures and Flipz, was built after buying assets from Nestle in a series of deals.
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The transaction includes DeMet’s two US manufacturing facilities. DeMet’s chief executive Peter Wilson will join Brynwood, while the remainder of the management team will be transferred to Yildiz.
Yildiz was unavailable for comment at time of press.
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