Hammonds Sold to Lolli & Pops in Strategic Transaction
Deal News | Nov 13, 2024 | Mesirow Financial Private Equi
Mesirow Financial Private Equity has played a pivotal role as the exclusive financial advisor in the sale of Denver-based Hammonds Candies to Lolli & Pops, a company within TerraMar Capital's portfolio. Hammonds, a renowned candy manufacturer founded in 1920, has developed a substantial portfolio of artisanal sweets, distributing through various channels such as retail, grocery, and e-commerce. This transaction signifies the continued robust interest in the snacking and confections industry, highlighting the appeal of Hammonds' specialized product offerings in a competitive market. Mesirow's involvement in this deal emphasizes the financial firm's expertise in food and beverage transactions, further supported by their successful history with companies like Pearsons and Piedmont Candy.
Sectors
- Food and Beverage Manufacturing
- Private Equity and Investment Banking
- Retail and E-commerce
Geography
- United States – The acquisition involves companies based in the United States, with Hammonds located in Denver, Colorado, and involvement from Mesirow, headquartered in Chicago.
Industry
- Food and Beverage Manufacturing – Hammonds Candies operates within the food and beverage manufacturing industry, focusing on the production of artisanal sweets and snacks.
- Private Equity and Investment Banking – Mesirow Financial's role in advising the sale positions it within the private equity and investment banking sector, highlighting its expertise in facilitating transactions.
- Retail and E-commerce – The distribution of Hammonds' products through various channels, including specialty retail, grocery, and e-commerce, relates to the retail and e-commerce industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hammonds Candies | Target Company | Company | A privately-owned manufacturer and marketer of artisanal sweets based in Denver, Colorado. |
| Lolli & Pops | Buyer | Company | A portfolio company of TerraMar Capital, engaged in acquiring Hammonds Candies. |
| TerraMar Capital | Portfolio Holder | Company | A private equity firm that provides capital and expertise to grow businesses. |
| Mesirow Financial | Financial Advisor | Company | An independent, employee-owned financial services firm acting as the exclusive financial advisor in this transaction. |
| Andrew Schuman | President and Co-Owner | Person | President and Co-owner of Hammonds Candies who expressed gratitude for Mesirow's advisory role. |
| Paul Mariani | Managing Director | Person | Managing Director and Head of Food, Beverage & Agribusiness Investment Banking at Mesirow. |