 | |
| Industry | Confections |
|---|---|
| Founded | July 1, 1995 |
| Defunct | November 19, 1999 |
| Successor | Nabisco |
| Headquarters | , United States |
Number of locations | 11 plants |
Area served | North America |
Key people |
|
| Products | |
| Brands | Jet-Puffed Marshmallows |
| Revenue |
|
| Owner | Texas Pacific Group |
Number of employees | 4,000 |
Favorite Brands International was founded in 1995, when Texas Pacific Group bought Kraft Foods, Inc. confection division.
In early 1995, the newly appointed head of Kraft General Foods, James M. Kilts, merged Kraft USA, General Foods USA, and Kraft General Foods Canada into a single organization called Kraft Foods, Inc. This was the main food subsidiary of Philip Morris USA. Looking to improve margins, Kraft Foods put their confections division, which consisted of the Jet-Puffed Marshmallows brand and Kraft Caramels, along with the Kendallville, Indiana plant, and marshmallow production and packaging equipment from Kraft's Buena Park, California, Garland, Texas, and Canadian plants, up for sale in early 1995. Texas Pacific Group and InterWest Partners acquired the $150-million-in-sales caramel and marshmallow businesses on July 1, 1995. [1]
Al Bono was the president-chief executive officer.
In May 1996, Favorite Brands quickly bought out one of its major competitors, Kidd & Co, headquartered in Ligonier, Indiana, only a few miles away from its flagship plant in Kendallville, along with a plant in Henderson, Nevada. In October 1996, the Ligonier plant was converted to a warehouse and all production was transferred to the Henderson and Kendallville plants, along with the employees. [2]
Favorite Brands bought Sathers, Inc., Round Lake, Minnesota, with an estimated $200 million in annual sales. [3]
Favorite Brands bought Farley Foods USA, August 31, 1996, with an estimated $300 million in annual sales, and five production facilities. [3]
Mark Upson, who was hired in March 1998, as the president-chief operating officer, resigned in late May of the same year. Al Bono, the chairman-chief executive officer, resigned in late July 1998, citing "differences in operational issues with the board". [4]
On September 29, 1999, Nabisco announced they were buying Favorite Brands for $475 million along with assuming $600 million of debt owed to creditors.
Marshmallow is a type of confectionery that is typically made from sugar, water and gelatin whipped to a solid but soft consistency. It is used as a filling in baking, or normally molded into shapes and coated with corn starch. The sugar confection is inspired by a historical medicinal confection made from Althaea officinalis, the marsh-mallow plant.
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Fannie May is a brand of chocolates owned by Ferrero SpA. Fannie May Confections, Inc. is a confectioner based in Chicago. Fannie May manufactures a broad variety of products including enrobed, barks, caramels, squares, berries, twist wrapped, molded, flow wrapped, and boxed chocolates. In attempt to reach all consumers, Fannie May became allergy conscious carrying candy without gluten, milk, honey, oil(s), wheat, eggs, etc. as well as listing the health benefits of eating dark chocolate. The Union of Orthodox Jewish Congregations of America certified many of Fannie May's products to be kosher as well.
Farley's & Sathers Candy Company was created as an umbrella company to roll up many small companies, brands and products under a common management team. The confectionery business segment is made up of many small companies, often with intertwined relationships and histories.
Trolli is a German confectionery brand used by Trolli GmbH worldwide and by Ferrara Candy Company in the United States. Trolli GmbH sells gummy candies, marshmallows, and soft licorice gums in over 80 countries and has factories in Germany, Spain, Indonesia, China and the Czech Republic.
Borden, Inc., was an American producer of food and beverage products, consumer products, and industrial products. At one time, the company was the largest U.S. producer of dairy and pasta products. Its food division, Borden Foods, was based in Columbus, Ohio, and focused primarily on pasta and pasta sauces, bakery products, snacks, processed cheese, jams and jellies, and ice cream. It was best known for its Borden Ice Cream, Meadow Gold milk, Creamette pasta, and Borden Condensed Milk brands. Its consumer products and industrial segment marketed wallpaper, adhesives, plastics and resins. By 1993, sales of food products accounted for 67 percent of its revenues. It was also known for its Elmer's and Krazy Glue brands.
The Lincoln Snacks Company was a manufacturer of caramelized popcorn and popcorn/nut mixes. Lincoln Snacks’ products are produced in Lincoln, Nebraska and sold nationally under the Poppycock, Fiddle Faddle and Screaming Yellow Zonkers (discontinued) brand names. Lincoln Snacks became a subsidiary of ConAgra Foods, Inc. on September 7, 2007.
E. Wedel is a Polish confectionery company, which has been producing a variety of chocolates, cakes, and snacks since 1851. Wedel is also a well-recognized brand of candy in Poland, considered to be the "Polish national chocolate brand" in that market, and is the leading candy brand among Polish producers with about 14% of the Polish market in 2005 and 11.7% in 2007.
The Spangler Candy Company is a privately owned international confectioner that has been manufacturing and marketing candy since 1906. Headquartered in Bryan, Ohio, Spangler's products include lollipops, candy canes, and marshmallow circus peanuts. Spangler brand names include Dum Dums, Saf-T-Pops, Whistle Pops, Spangler Candy Canes, and Spangler Circus Peanuts. Dum Dums were invented in 1924, and Spangler purchased the rights and equipment in 1953. The small multicolor lollipops are popular as free giveaways. In 2018, Spangler bought the defunct Necco, retaining the rights to Necco Wafers, Sweethearts conversation hearts, and Canada Mints.
Jet-Puffed Marshmallows is a brand of marshmallow and similar products, manufactured by Kraft Foods and first introduced in 1958. First sold as a national brand in 1959, it has more than 30 different flavors to its brand name.
