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  6. Annabelle s Candy Acquires Pearson’s

M&A Deal Summary

Annabelle s Candy Acquires Pearson’s

On December 13, 2022, Annabelle s Candy acquired food company Pearson’s from Spell Capital Partners

Acquisition Highlights
  • This is Annabelle s Candy’s 1st transaction in the Food sector.
  • This is Annabelle s Candy’s 1st transaction in the United States.
  • This is Annabelle s Candy’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-12-13
Target Pearson’s
Sector Food
Buyer(s) Annabelle s Candy
Sellers(s) Spell Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Mesirow Financial (Financial)

Target

Pearson’s

St. Paul, Minnesota, United States
Pearson’s is a manufacturer and marketer of Pearson's Salted Nut Roll, Pearson's Mint Patties, Pearson's Nut Goodies, and Pearson's Bun confectionery brands. Pearson’s was founded in 1909 and is based in St. Paul, Minnesota.

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Buyer(S) 1

Buyer

Annabelle s Candy

Hayward, California, United States
Category Company
Founded 1950
Sector Food
DESCRIPTION

Annabelle's Candy is an independently owned candy bar manufacturers in the United States, producing some of the most popular and traditional West Coast items. Annabelle's Candy was founded in 1950 and is based in Hayward, California.

DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Minnesota M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1

Seller(S) 1

SELLER

Spell Capital Partners

Edina, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spell Capital Partners is a private equity firm that targets control investments in lower middle-market manufacturing and distribution businesses. Spell targets companies with at least $5 million in annual revenues and minimum EBITDA of $1 million. The Firm's target equity investment size range is $2 to $15 million. Spell prefers opportunities located in the upper-midwestern states of Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, Indiana, Illinois, and Nebraska. Spell Capital Partners was formed in 1988 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 33 of 37
Sector: Food M&A 2 of 2
Type: Add-on Acquisition M&A Deals 18 of 21
State: Minnesota M&A 9 of 9
Country: United States M&A 33 of 37
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-13 Tech Cast

Myerstown, Pennsylvania, United States

Tech Cast is a provider of near-net-shape investment castings for the commercial, mining, medical, agricultural, oil field, and military industries. Tech Cast was founded in 1977 and is based in Myerstown, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-15 Complete Packaging

Monroe, Michigan, United States

Complete Packaging is a provider of precision-engineered and customizable packaging solutions primarily to automotive and industrial markets. Complete Packaging was founded in 1979 and is based in Monroe, Michigan.

Sell -
Mergr

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