M&F Worldwide

Last updated
M & F Worldwide
TypeSubsidiary
Industry holding company
FoundedJune 1, 1988
Headquarters,
USA
Key people
Barry F. Schwartz, CEO
Ronald O. Perelman
Productschecks, licorice products
Servicesdirect marketing, contact center
Parent MacAndrews & Forbes
Subsidiaries Harland Clarke Holdings Corp. [1]
Mafco

M&F Worldwide Corp. is a privately held holding company based in New York City. It was incorporated in Delaware on June 1, 1988. [2] Formerly Power Control Technologies, Inc., the company was previously a New York Stock Exchange listed public holding company (MFW) that became part of the Ronald O. Perelman group of companies. It was acquired by private company MacAndrews & Forbes in 2011. [3]

Contents

History

Mafco Holdings acquired Abex, Inc., an aircraft control system & hydraulic pump manufacturer, and then merged it into a Mafco subsidiary in 1995 while the aerospace subsidiary, Power Control Technologies Inc., became publicly traded. Power Control then acquired Flavors Holdings Inc. in 1996 for $180 million, which included the licorice business subsidiary Mafco Worldwide Corp., which manufactures more than 70% of the worldwide licorice flavors.

An Abex, Inc. subsidiary, Pneumo Abex Inc., merged through multiple transactions with Mafco Worldwide. Power Control Technologies was renamed M & F Worldwide in 1997. In 2000, Perelman proposed that Mafco Holdings' major share in Panavision Inc. be sold to M & F Worldwide at Mafco Holdings' purchase price but was block by an M & F shareholder as the stock was trading at only 23% of that value. [4]

In July 2013, the firm’s main subsidiary, Harland Clarke, agreed to sell Harland Financial Solutions to Davis & Henderson for $1.2 billion. [5]

Subsidiaries

Logo of Harland Clarke Harland Clarke logo.svg
Logo of Harland Clarke
Name (state of Incorporation)

Foreign

Name of Subsidiary (Jurisdiction)

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References

  1. 1 2 "New Brand in Financial Services Brings Industry's Most Expansive Lineup of Checks and Payment Products to its Clients". Harland Clarke Press Releases. Retrieved 2008-05-21.
  2. M & F Worldwide CorpP (1997-12-31). "10-K ANNUAL REPORT" (text). SEC. p. 1. Retrieved 2008-05-21.
  3. "M & F Worldwide Announces Completion of Acquisition by MacAndrews & Forbes Holdings Inc" . Retrieved 16 April 2015.
  4. "M & F Worldwide Corp. -- Company History". Funding Universe Company Histories. Retrieved 2008-05-28.
  5. Euan Rocha (23 July 2013). "Davis + Henderson to buy Harland Financial for $1.2 billion". Reuters.
  6. M & F Worldwide Corp. (2007-12-31). "Form 10-K Annual Repor". secinfo.com. Retrieved 2008-05-20.
  7. 1 2 "Form 10-K Annual Report EX-21.1 Subsidiaries". United States Securities and Exchange Commission. 2007-12-31. p. 1. Retrieved 2008-05-20.