April 22, 2015
Denver, CO – April 22, 2015 - W.G. Nielsen & Co., a leading investment banking firm headquartered in Denver, CO, announced today that BBX Sweet Holdings, a wholly-owned subsidiary of BBX Capital Corporation ("BBX Capital") (NYSE: BBX) has acquired the assets of Kencraft, Inc. "Kencraft Candy." W.G. Nielsen & Co. acted as financial advisor to Dynamic Confections, Inc., the parent of Kencraft, Inc., in the transaction. Headquartered in a 50,000 square foot production facility in American Fork, near Salt Lake City, Utah, Kencraft Candy has a long history of manufacturing elegantly designed homemade hard candies in the USA. Established in 1969, Kencraft Candy is well known for their Lollipops, LolliKits, LolliLetters, Candy Sticks, Candy Canes, Bubblegum Buddies, Royal Icing Decorations, and Panoramic Sugar Easter Eggs. Kencraft Candy is recognized nationally and has customer distribution in numerous sales channels. "We are extremely excited to announce our most recent acquisition of Kencraft Candy," said Jarett Levan, President of BBX Capital and CEO of BBX Sweet Holdings. "As we focus on continuing to extend our reach into the confections industry, the acquisition of Kencraft Candy is a great strategic fit and expands our unique and growing number of product offerings in the confectionary category." Justin Boyle will continue his role as President of Kencraft Candy. "Combining our manufacturing capabilities and facility with BBX Sweet Holdings' sales and distribution network will position Kencraft Candy for the future," said Justin Boyle. "I am very excited to be a part of the BBX Sweet Holdings family and excited about the opportunities and resources that BBX Capital brings to Kencraft Candy."
About BBX Sweet Holdings
BBX Sweet Holdings, a wholly owned subsidiary of BBX Capital (NYSE: BBX), invests in and acquires manufacturers, wholesalers, and retailers of chocolate and confectionary products. BBX Sweet Holdings has expanded to include seven nationally recognized brands including Anastasia Confections, Helen Grace Chocolates, Hoffman's Chocolates, Jer's Chocolates, Kencraft Candy, The Toffee Box, and Williams & Bennett.
About BBX Capital Corporation
BBX Capital (NYSE: BBX) is involved in the acquisition, ownership, management of, joint ventures and investments in real estate and real estate development projects, as well as acquisitions, investments and management of middle market operating businesses. In addition, BBX Capital and its holding company, BFC Financial Corporation (OTCQB: BFCF), have a 46% and 54% respective ownership interest in Bluegreen Corporation. As a result of their ownership interests, BBX and BFC together own 100% of Bluegreen. Bluegreen manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 180,000 owners, over 65 owned or managed resorts, and access to more than 4,500 resorts worldwide.
About W.G. Nielsen & Co.
W.G. Nielsen & Co. is a Denver-based investment banking firm that specializes in mergers and acquisitions (sell side and buy side advisory services) and structured and leveraged financing transactions. The Company enables select, mid-sized clients to achieve their goals through strategic alliances, industry experience, and proven methodologies. Since the Company's inception in 1996, W.G. Nielsen & Co. professionals have completed transactions valued in excess of $4 billion. For information on the above transaction, please contact Blake Nielsen or Tom Campbell at 303.830.1515 or visit www.wgnielsen.com.