Farley’s & Sathers merges with Ferrara PanROUND LAKE — Farley’s & Sathers Candy Co. Inc., based in Round Lake, and Ferrara Pan Candy Co., Inc., based in Forest Park, Ill., a Chicago suburb, completed a merger on Monday, but details of the impact to the home office in Round Lake are not being disclosed.
By: Julie Buntjer, Worthington Daily Globe
ROUND LAKE — Farley’s & Sathers Candy Co. Inc., based in Round Lake, and Ferrara Pan Candy Co., Inc., based in Forest Park, Ill., a Chicago suburb, completed a merger on Monday, but details of the impact to the home office in Round Lake are not being disclosed.
Bryan Darrow, with Joele Frank, Wilkinson Brimmer Katcher corporate communications firm, said the only information available at this time is the formal press release, which states the combined company will be called Ferrara Candy Co., Inc., led by Salvatore Ferrara II, chairman and CEO.
Terms of the transaction were not disclosed.
“We are pleased to complete the transaction, which creates a leader in our category,” Ferrara said in the press release. “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, which has owned Farley’s & Sathers for more than a decade, will remain a majority investor in the combined company.
“This transaction brings together the best products and people in the industry,” added Scott Dahnke, managing partner of Catterton Partners, in the press release. “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.”
Farley’s & Sathers is considered one of the top 25 manufacturers of confections in the world, according to the release.
The merger will bring an array of confectionary treats under one label, from the Farley’s & Sathers branded products to Heide, Jujyfruits, Now and Later, Bobs, Sweet Stripes, Super Bubble, Fruit Stripe, Rain-Blo, Trolli, Chuckles and Brach’s, to Ferrara Pan products that include Lemonheads, Red Hots, Black Forest gummies, Atomic Fireballs and Boston Baked Beans.
Ferrara Pan Candy Co. was founded in 1908 by Salvatore Ferrara as a manufacturer of Italian pastries and sugar-coated candy almonds. In 1919, a partnership of brothers-in-law led to the manufacturing of a wide variety of confections.
Farley’s & Sathers has been in operation in Round Lake since 2002, although Sathers Co. originated in 1936 in the southern Nobles County community in 1936 as a small grocery business. Packaging and trucking operations began in the 1960s in Round Lake.
Sathers experienced much growth over the next 70-plus years, but the Round Lake facility was hit hard in late 2009 with the announcement that approximately 175 full-time and additional part-time positions would be eliminated. In late January 2010, the packaging and warehousing departments, as well as fleet operations, closed. Six positions in the corporate office in Round Lake were also cut at that time, and more job cuts have taken place since then.
Daily Globe Reporter Julie Buntjer may be reached at 376-7330.