Mrs. Fields Confections, a subsidiary of Famous Brands Int’l, is acquiring almost all assets of Maxfield Candy Co., including its top brands, Maxfield Candy and Nutty Guys.
The acquisition came through an order of the Third Judicial District Court of Salt Lake County, Utah. With it, Maxfield Candy Co. becomes part of Famous Brands, the parent company of TCBY Yogurt and Mrs. Fields Cookies.
"We are extremely excited that the Maxfield Candy brand, whose previous owner was a long-standing Mrs. Fields licensee, will officially join our family as we continue to expand the iconic Mrs. Fields and TCBY brands throughout the world," says Joyce Hrinya, interim ceo, Famous Brands.
She adds that the Maxfield Candy brand is an “ideal fit” for Mrs. Fields’ and she’s confident that these delicious treats, “will delight our existing and future customers.” And, Nutty Guys, is also a high quality nut, dried fruits and popcorn brand that will, “complement and augment our existing portfolio of premium products.”
Hrinya also says she plans to hire back employees who were let go when International Confections went in receivership.
“We look forward to bringing [back] as many of these employees as practical and have already extended some offers to join Famous Brands," she says.
Famous Brands is a portfolio company of leading private equity firm Z Capital Partners, which manages about $1.9 billion of regulatory assets.
"As a long-standing partner to Mrs. Fields, Maxfield Candy is a natural addition to our portfolio," says James Zenni, chairman, Famous Brands and ceo, Z Capital. "The Famous Brands' team has worked tirelessly to capitalize on the significant potential of the company's platform, and today, TCBY and Mrs. Fields are distinctly positioned in their respective markets and expanding rapidly.”
Zenni says the hope is that the Maxfield Candy and Nutty Guys brands will accelerate the global demand for Famous Brands' products.
“We look forward to capitalizing on the tremendous growth prospects of these two brands to further elevate TCBY and Mrs. Fields and continue the momentum at Famous Brands," he says.