ST. PAUL, Minn. (AP) — St. Paul-based Pearson Candy Co. has new owners.
A Connecticut-based private equity firm says it has acquired the 102-year-old maker of Pearson’s Salted Nut Roll and Nut Goodies.
Terms of the sale to Brynwood Partners VI L.P., based in Greenwich, Conn., were not disclosed. The transaction closed on Monday.
Pearson has been owned and operated by Larry Hassler since 1985. Hassler says in a news release he’s confident he’s leaving the company in good hands.
Henk Hartong III, a Brynwood senior managing partner and now Pearson’s chairman, calls Pearson an “iconic confectionery business.”
Hartong tells the Star Tribune that Brynwood doesn’t anticipate moving production from Pearson’s St. Paul plant, which employees over 100 people.
Brynwood has other candy industry investments, including in DeMet’s Candy Co, maker of the Turtles brand.
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