Famous Brands International , the parent company of TCBY Yogurt and Mrs. Fields Cookies, announced that its subsidiary Mrs. Fields Confections acquired virtually all of the assets of International Confections Company, LLC dba Maxfield Candy Company, including premium brands Maxfield Candy and Nutty Guys following entry of an order of the Third Judicial District Court of Salt Lake County, Utah.
"We are extremely excited that the Maxfield Candy brand, whose previously owner was a long-standing Mrs. Fields licensee, will officially join our family as we continue to expand the iconic Mrs. Fields and TCBY brands throughout the world," said Joyce Hrinya, Interim Chief Executive Officer of Famous Brands. "With a renowned heritage as a premium confectioner dating back nearly 70 years, the Maxfield Candy brand is an ideal fit and I'm confident that the addition of these delicious treats to the Famous Brands portfolio will delight our existing and future customers. Nutty Guys is also a high quality nut, dried fruits and popcorn brand that will both complement and augment our existing portfolio of premium products. Additionally, the prior owner of these brands had a team of highly-skilled employees who were put out of work once International Confections went in receivership. We look forward to bringing as many of these employees as practical and have already extended some offers to join Famous Brands."
"As a long-standing partner to Mrs. Fields, Maxfield Candy is a natural addition to our portfolio," said James Zenni, Chairman of Famous Brands and Chief Executive Officer of Z Capital. "The Famous Brands' team has worked tirelessly to capitalize on the significant potential of the Company's platform, and today, TCBY and Mrs. Fields are distinctly positioned in their respective markets and expanding rapidly. With the recent success of TCBY and Mrs. Fields, including our in-store gifting stations, the addition of the Maxfield Candy and Nutty Guys brands will only accelerate the global demand for Famous Brands' products. We look forward to capitalizing on the tremendous growth prospects of these two brands to further elevate TCBY and Mrs. Fields and continue the momentum at Famous Brands."
Famous Brands is a portfolio company of Z Capital Partners, L.L.C., a leading private equity firm with approximately $1.9 billion of regulatory assets under management.
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