GREENWICH, CT - December 1, 2008 - DeMet's Candy Company announced today that it has completed the acquisition of the TREASURES and STIXX confectionery brands from Nestlé USA, Inc. DeMet's will merge these two brands into its existing portfolio of confectionary products after a short transition period with Nestlé. DeMet's currently markets the TURTLES® and FLIPZ® brands and is headquartered in Stamford, CT. DeMet's is owned by Greenwich, CT based Brynwood Partners.
"DeMet's is pleased to welcome the TREASURES and STIXX brands to its family of confectionary products," said David Clarke, President and CEO of DeMet's Candy Company. "The TREASURES and STIXX brands are both innovative and high quality products. They are an excellent addition to our existing base business and we plan to expand these well known brands into new formats and flavor profiles in the near future."
"The TREASURES and STIXX brands will enable us to reach a broader consumer base", said James Gerbo, Senior Vice President, Marketing. "These products appeal to segments within the category that we currently do not serve."
Founded in 1984, Brynwood Partners is a private equity fund which invests in lower middle market companies over a long-term horizon targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood Partners have made investments in 22 portfolio companies and have successfully partnered with management to grow their businesses through the financial and operating support that Brynwood Partners uniquely provides.