BBX Capital acquires Kencraft Candy
Move marks BBX’s seventh confectionery acquisition since Jan. 2014
BBX Sweet Holdings, a wholly-owned subsidiary of BBX Capital Corp., has acquired the assets of Kencraft, Inc., Kencraft Candy.
The move marks the seventh confectionery company BBX has acquired since January 2014. The company has also bought The Toffee box, Anastasia Confections, Hoffman’s Chocolates, Williams & Bennett, Jer’s Chocolates and Helen Grace Chocolates.
Established in 1969, Kencraft Candy is well known for its Lollipops, LolliKits, LolliLetters, Candy Sticks, Candy Canes, Bubblegum Buddies, Royal Icing Decorations, and Panoramic Sugar Easter Eggs.
The candymaker is headquartered in a 50,000 sq.-ft. production facility in American Fork, near Salt Lake City, Utah, and has a long history of manufacturing elegantly designed homemade hard candies.
Jarett Levan, president of BBX Capital and ceo of BBX Sweet Holdings, says the acquisition will allow BBX to deliver more product choices to its customers and consumers.
“We are extremely excited to announce our most recent acquisition of Kencraft Candy,” he says. “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.”
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,”he explains. “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.”