DALLAS -- Private investment firm Highlander Partners LP has acquired the assets of gummy confection maker Queen City Candy Inc. for an undisclosed amount. The acquisition aims to help the candy maker expand its product offerings and enter new markets, said Jeff Hull, president and managing partner of Highlander Partners, Dallas.
“We are excited about our acquisition,” Hull said. "We believe the opportunity in the gummy confection and vitamin space will continue to grow at a significant rate.
"Queen City Candy offers outstanding manufacturing capabilities, with its cutting-edge manufacturing equipment and unique production capabilities. Queen City Candy's capabilities extend beyond regular confection products, and we believe that we can capitalize on the industry trends and the uniqueness of the company's assets while pursuing gummy vitamin and other confection and wellness strategies over the next few years."
This acquisition marks Highlander’s fourth candy investment in the past two years. In November 2016, the company acquired organic candy producer Hillside Candy. The following April, Highlander attained gourmet jelly bean and gummy vitamin maker Gimbals. And most recently, in April 2018, the firm acquired the trademark portfolio from packaging company Huhtamaki Oyj. The portfolio included products such as Jolly Ranchers, Whoppers and Milk Duds, which are licensed under The Hershey Co.
“Having closed more than 20 transactions in the food space, we remain fully committed to the food and beverage categories, both finished consumer products and ingredients, and we continue seeking high-quality food businesses that have a strong market position, differentiated offerings and compelling growth opportunities,” said Alex Guiva, partner with Highlander Partners.
Dallas-based Highlander Partners is a private investment firm containing more than $2 billion of assets under management. The firm invests in companies that focus on basic manufacturing, food and beverage, chemicals, building materials, consumer products and more.
Greendale, Ind.-based Queen City Candy manufactures gummies, jellies and fruit snacks for more than 1,000 retailers and convenience stores worldwide. Its products include Gummi Bears, Neon Worms, Peach Rings, Gummi Worms and Gum Drops. The company was founded in 1983.