October 5, 2012
Sale of Wolfgang Candy Company, Inc. Finalized
The Honorable Mary D. France, Chief Judge of the United States Bankruptcy Court, Middle District of Pennsylvania, has approved the motion to sell the Wolfgang Candy Company, Inc.�s materials, equipment and intellectual property to Wolfgang Operations, LLC and members of the Wolfgang family. The sale closed and was finalized as of Friday, October 5, 2012.
Wolfgang Operations, LLC, and certain members of the Wolfgang family completed a partnership purchase of Wolfgang Candy Company. Wolfgang Operations, LLC will hold a majority stake in the company, while the current family members, who are also part of the management team and have been part of the brand and organizational successes for many years prior to this purchase, will hold a minority stake. This new partnership brings a significant capital investment to the company, allowing Wolfgang to implement strategic growth plans for increased brand awareness and consumer demand across the nation for its premium confections.
With renewed financial stability, through the company�s new owner�s immediate capital investment, Wolfgang is well positioned to grow its brand awareness and market share regionally and nationally, while continuing production in the Borough of North York, PA.
Founded in 1921, Wolfgang Candy offers one of the industry�s most extensive arrays of premier chocolate and non-chocolate confections available to the retail and fundraising marketplace.
�We are very excited to have new ownership who see the true value of the Wolfgang premium brand and the potential it holds for becoming one of the nation�s leading candy companies,� said Benjamin A. McGlaughlin, President and CEO of Wolfgang Candy Company, Inc. �Wolfgang Operations, LLC, with its capital investment in Wolfgang, and in partnership with members of the Wolfgang family, has already begun to put together a plan for a very bright future for Wolfgang and its multi-channel sales partners.�
The North York, PA manufacturing facility and factory store will remain open and business will continue as usual to meet increased demand in the fall fundraising season.
�The Wolfgang brand is one that we have always admired. With the brand having well established brand equity, we are looking forward to building a growth strategy that provides a national stage for increased demand,� said Michael Stillman, majority stakeholder in Wolfgang Operations, LLC. �We see enormous potential in the premium confections market, and we know that Wolfgang is poised for growth.�
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About Wolfgang Candy Company, Inc. Founded in 1921, Wolfgang Candy Company, Inc. is based in York, PA and offers the most extensive array of high-quality chocolate and non-chocolate confections available in the retail and fundraising marketplace. Wolfgang services premier fundraising distributors, fundraising groups and national chains in most classes of trade. For more information on Wolfgang and its products please visit www.wolfgangcandy.com.