Lolli & Pops acquires Hammond's Candies
The acquirer is a portfolio company of Terramar Capital.
Courtesy of Hammond's Candies
Lolli & Pops, a purveyor of premium confections and gift experiences, has acquired Hammond's Candies. This strategic acquisition reportedly marks a significant milestone in Lolli & Pops' growth strategy that has been underway since being acquired by TerraMar Capital.
Founded in 1920, Hammond's Candies is known for its handcrafted candy canes, lollipops, and other nostalgic sweets. With over a century of expertise, Hammond's has built a reputation for quality and innovation, making it a perfect complement to Lolli & Pops' commitment to delighting customers with unique and memorable candy experiences, the brand says.
The acquisition will allow Lolli & Pops to leverage Hammonds' established brand and extensive product line, further enriching the customer experience across its nationwide stores and online platform. By combining the strengths of both companies, Lolli & Pops aims to leverage the artisanal craftsmanship of Hammonds while introducing new products to a broader audience. Andrew Schuman will continue in his current role as president & CEO of Hammonds.
"We are thrilled to welcome Hammond's to the Lolli & Pops family," says Keri Morris, CEO of Lolli & Pops. "Hammonds' dedication to creating high-quality, handmade confections aligns perfectly with our vision of providing our customers with the finest and most delightful treats. This acquisition represents a union of two companies that share a passion for sweetness and a commitment to excellence."
"Hammonds has had the fortune of developing a world-class portfolio of timeless and innovative snacking and confections products that has resulted in shared traditions passed down through generations, sweet memories and delightful candies for our loyal consumers. Growing Hammond’s for the past 17 years has been an incredibly fulfilling experience," says Schuman. “I’m excited about partnering with Lolli & Pops and playing a meaningful role in the continued growth of both companies going forward.”
This transaction was funded by a new revolving credit facility provided by PNC Bank, a term loan provided by Advantage Capital Management LLC and additional investment from TerraMar Capital.
Related: Hammond’s, Iconic Candy, Gummi Pop earn 2021 Buyer’s Choice Awards
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