Runamok’s CEO and co-founder, Eric Sorkin, told ConfectioneryNews his company had been in talk with Bascom about a sale for a year before sealing the deal for an undisclosed sum in late December 2016.
Bascom is one of the largest independent suppliers of pure maple syrup and maple candy in the US, according to Runamok.
Creating new candy brand
Upon closing of the acquisition, the candy operation of Bascom, consisting of maple candy and maple butter, will be operated under the name of True North Maple, a newly developed maple candy brand from Runamok.
True North Maple will use the production facilities at Brattleboro Development Credit Corporation’s Cotton Mill Building in Brattleboro, Vermont. But it will operate as a separate entity, according to Runamok.
“Maple candy remains a very small percentage of the overall US confectionery industry, but the interest has been explosive. [Maple syrup] market is growing about 20% every year,” Sorkin said.
Currently, maple candy is predominantly consumed within the region it is produced, according to Sorkin mentioned. The maple-producing region, which consists of eastern Canada, northeast US, great lakes states and northern Midwest, is called the Maple Belt.
"We are absolutely looking to sell maple candies beyond the [Maple Belt] region," he added.
In addition True North Maple candies, Sorkin’s team will also supply six private label maple products as well as actively seeking collaborations with sugar confectionery makers who are looking to private label, the company added.