BBX Capital Acquires Helen Grace Chocolates
BBX Sweet Holdings, a wholly-owned subsidiary of BBX Capital Corporation ("BBX Capital") (NYSE: BBX), announced today that it has acquired the assets of Helen Grace Chocolates.
Headquartered in Lynwood, California, Helen Grace Chocolates has been creating premium chocolate confections, chocolate bars, chocolate candies, and truffles for 70 years.Â Helen Grace has built a national brand by combining a proprietary blend of premium chocolates, the freshest ingredients, and time-honored recipes.Â
"The story of Helen Grace Chocolates is a story of the American Dream.Â Starting with nothing, Bill and Helen Grace opened their first chocolate shop in San Pedro, California in 1944.Â Eventually they opened additional stores, began selling candy to schools for fund-raising campaigns, and grew to be a Southern Californian candy legacy," commented Jarett Levan, President of BBX Capital.Â
"Helen Grace Chocolates established its heritage through outstanding quality, value, and commitment to tradition.Â After my 24 years with Helen Grace I am very pleased to join the family of BBX Sweet Holdings companies and to carry on the Helen Grace devotion to its product and customers," said Greg Power, General Manager of Helen Grace Chocolates.
"For many years Helen Grace Chocolates has helped schools and other organizations reach their fundraising goals through sales of their premium boxed chocolates, chocolate Easter eggs, and chocolate bars sold exclusively through the national fundraising programs of Innisbrook Wrapsâ„¢.Â As part of theÂ transaction, Helen Grace will continue to be the exclusive provider of chocolate and chocolate gift items to Innisbrook, and Helen Grace Chocolates will continue to be enjoyed by customers, including parents and students in their fund-raising campaigns, across North America," furthered Jarett Levan.
"The addition of Helen Grace Chocolates to the suite of premier brands at BBX Sweet Holdings creates the potential for a new pipeline of synergies, product choices, and offerings to Innisbrook," commented David Worth, President of Innisbrook.Â "We are excited about the new brands and products Helen Grace Chocolates and BBX Sweet Holdings can offer to our fundraising customers."
Helen Grace Chocolates was represented by the investment bank 41 North Advisors LLC as their exclusive advisor in the transaction.
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