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CHICAGO, IL – December 1, 2015; City Capital Advisors, a results-oriented investment banking firm serving the middle market, announced today that Wholesome Sweeteners, Inc.®, owner of Wholesome!™, the leading U.S. brand of organic, Fair Trade and Non-GMO sugars and sweeteners, has purchased the organic candy company, TruSweets. Finalized on November 23, TruSweets adds its two candy brands, Surf Sweets and TruJoy Sweets to the Wholesome Sweeteners portfolio. City Capital Advisors was hired as the exclusive financial advisor to TruSweets.
Transaction Summary
Wholesome Sweeteners, Inc. has been a longstanding pioneer in the organic sugar and sweeteners category, currently offering more than 40 retail skus in the United States and Canada under the Wholesome! name brand. TruSweets is the leading innovator in organic candy with more than 25 retail skus. The acquisition is a natural fit for both companies that share a passion for organic, high quality ingredients and environmental responsibility.
Since 2008, TruSweets has been making organic candy that kids enjoy without the artificial ingredients that concern parents. Its recipes are made up of Non-GMO, gluten-free candy that is also free of artificial colors, flavors and corn syrup. The company’s Surf Sweets brand, carries a broad variety of gummy candy (including fruity, sour, rings and jelly beans) made without the 10 most common food allergens. Its TruJoy Sweets brand offers an organic twist on timeless candy favorites like candy canes, fruit chews, choco chews and lollipops that are also vegan and kosher. This acquisition positions TruSweets for prime growth as it will have access to Wholesome Sweeteners’ broad customer base and marketing and sales resources.
“We’re very excited to join the Wholesome Sweeteners team. Their passion for organics, environmental sustainability and Fair Trade are a perfect match for what we stand for here at TruSweets. This was the right growth opportunity for us and we are looking forward to utilizing the resources and ideas that have been so impactful to the Wholesome! brand,” said Bert Cohen, president and founder of TruSweets.
TruSweets will retain its headquarters in Wheeling, Illinois and Wholesome Sweeteners, Inc. will remain in Sugar Land, Texas. Financial details were not disclosed.
About TruSweets
TruSweets is a organic candy company that operates under two brands, Surf Sweets and TruJoy Sweets and also sells unbranded bulk candy. Surf Sweets markets chewy candy with organic ingredients that are free of the top 10 most common allergens. TruJoy markets organic variations of classic candy favorites (candy canes, fruit & choco chews, mints and lollipops). The Company’s products have clean labels and attributes including: Non-GMO Project verified, gluten-free, corn syrup-free, and no artificial colors or flavors. The company distributes its products in the natural channel as well as the natural and organic section of select conventional grocery retailers. Both of the TruSweets brands are proud members of 1% for the Planet, donating a minimum of 1% of the sales from products to a number of environmental organizations. For more information about these brands, visit SurfSweets.com and TruJoySweets.com.
About Wholesome Sweeteners, Inc.®
Wholesome Sweeteners, the owner of the Wholesome! brand is the nation’s leader in organic, Fair Trade and Non-GMO sugars, molasses, syrups, stevia and honeys. Wholesome! has been committed to organics and staying on the cutting edge of eco-friendly agriculture since its founding in 2001. Wholesome! is dedicated to Fair Trade and partners with caring farming families across the globe ensuring them a fair price for their crops. Since 2005, Wholesome! has paid more than $10 million in Fair Trade premiums to farming co-operatives and partners worldwide helping bring clean water, electricity, schools and health care to villages in Malawi, Mexico, Brazil and Paraguay. Visit WholesomeSweet.Com or contact Customer Service: 1(800) 680-1896 or CS@WholesomeSweet.Com.
About City Capital Advisors, LLC
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm. Client engagements are managed exclusively by experienced senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital’s investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.