ACON Investments, the US private equity firm, has acquired a controlling stake in YumEarth, the US organic confectionery brand, for an undisclosed sum.
The acquisition was supported by industry partner Fini, the Spain-headquartered confectionery manufacturer, which will also hold an ownership stake in the business. Founded in 2007, YumEarth specialises in allergy-friendly candy made with clean, simple ingredients. The company’s portfolio includes chewy sweets, lollipops and fruit snacks, which are sold online and through approximately 30,000 retail outlets, including Target and Walmart.
According to a press release, the transaction represents the first investment of the ACON Evolution Fund, which focuses on consumer and industrial sectors. ACON and Fini plan to leverage their respective expertise to support YumEarth’s strategy and accelerate its growth.
YumEarth CEO Steve Van Tassel stated: “Our partnership with ACON and Fini represents an exciting new chapter for YumEarth. […] With ACON’s experience supporting consumer brands and Fini’s deep confectionery expertise, we are well-positioned to expand our reach”.
Source: ACON Investments (via PR Newswire)
