BBX Capital marks sixth premium confections buy with The Toffee Box
The acquisition is BBX’s sixth premium confectionery addition to its BBX Sweet Holdings subsidiary, which was established in December 2013.
The Toffee Box is headquartered in Carlsbad near San Diego, California and produces handcrafted toffee.
The company has distribution in the Whole Foods market in California and at other retailers such as Safeway & Vons.
“The Toffee Box, which started making toffee from a secret family recipe, has become a premier toffee confections company and we are excited about the opportunity for growth in new products, distribution channels and geographies,” said Jarett Levan, president of BBX Capital.
Heather Mubarak, founder of The Toffee Box said she was excited about the resources BBX could bring to grow the brand.
The Toffee Box range includes five varieties of toffee: Dark Chocolate Almond, Mocha Hazelnut, Milk Chocolate Pecan, White Chocolate Macadamia Nut and individually wrapped Toffee Squares.
BBX Sweet Holdings
BBX, primarily a real estate investor, has been adding to its Sweet Holdings subsidiary since December 2013.
Last week, it acquired Florida-based Anastasia Confections, which included a 80,000 sq ft production facility.
The holding already includes Helen Grace Chocolates , Hoffman’s Chocolates, Williams & Bennett,. and Jer’s Chocolates.
"BBX Sweet Holdings is our umbrella brand, but each of our acquired brands will retain their own identity," Terry Frank, director of marketing and strategic projects at BBX Capital, told ConfectioneryNews.
He continued: "Our combined platform now has incredible synergies in production, purchasing, and distribution, and we have capabilities as a larger platform that the companies did not have independently. And more importantly, we have more creative minds working together to developing new product and launching new channels,"
He added that BBX would continue to look for acquisitions within the industry. "Our criteria includes legendary brands, exceptional products, and great management. All three of those are important," he said.
BBX Capital is listed on the New York stock exchange. It posted $44.1m in revenues for the first half of the year and $8.4m in net income.