Highlander Partners acquires Queen City Candy
Transaction marks private investment firm’s fourth acquisition in the confectionery space.
July 9, 2018
Private investment firm Highlander Partners acquired Indiana-based gummy manufacturer Queen City Candy (QCC) in a deal announced July 6.
Founded in 1983, QCC expanded into a state-of-the-art production facility with a high-speed mogul and robust drying capabilities in 2015. The company manufactures gummies, jellies and fruit snacks. QCC produces both pectin and gelatin-based products and is SQF Level II certified.
“We are excited about our acquisition of QCC,” said Jeff Hull, Highlander Partners president and managing partner. “We believe the opportunity in the gummy confection and vitamin space will continue to grow at a significant rate. QCC offers outstanding manufacturing capabilities, with its cutting-edge manufacturing equipment and unique production capabilities. We believe that with Highlander’s resources and in collaboration with Bettera Brands, another Highlander portfolio company, QCC will be able to expand its product offerings and enter new markets, further accelerating the company’s growth.
The QCC acquisition is the latest in Highlander’s push to build its confectionery portfolio. In May the Dallas-based firm acquired the intellectual property, trademarks and associated licensing agreements for 10 chocolate and sugar confectionery brands from Huhtamäki Oyj, a global food and beverage packaging company headquartered in Espoo, Finland.
In April 2017, Highlander acquired jelly bean maker Gimbal’s and folded it into Bettera Brands with Hillside Candy, which Highlander acquired in November 2016.
“We have been very active; this is Highlander’s fourth investment in the confection space in the last two years and this is our third food deal this year,” said Highlander Partner Alex Guiva. “Having closed more than 20 transactions in the food space, we remain fully committed to the food and beverage categories.”