Private-equity firm Acon Investments has acquired a controlling stake in YumEarth, a U.S. organic confectionery company, with Spain-based candy maker The Fini Company joining the deal as a strategic industry partner, according to a report by Yahoo Finance.
The transaction was announced June 30. Financial terms were not disclosed. Acon and Fini bought YumEarth from U.S. investment firm The Riverside Company, which had previously owned the brand.
YumEarth was founded in 2007. The company sells organic gummies and chewy candy, lollipops, fruit snacks and sour products. Its products contain no artificial dyes or high-fructose corn syrup and are free from gluten and top nine allergens. The company sells online and through around 30,000 retail outlets, including Target, Whole Foods and Walmart.
Fini is a major producer of gummy, marshmallow and licorice sweets. It also markets Dr. Good, a vitamin-supplement line sold in Brazil, and operates under its namesake brand. Earlier this year, Fini acquired German confectionery distributor Tri D'Aix after more than 30 years of collaboration with that family-owned company.
Fini CEO Manolo Sánchez said: "YumEarth is an exceptional brand with a strong purpose, high-quality products and meaningful growth potential."
Anjali Jolly, managing partner at Acon, described YumEarth as having "a differentiated brand with a loyal consumer following at the intersection of several powerful consumer trends." She added: "We believe our partnership with Fini will provide valuable resources to help unlock the company's full potential."
YumEarth CEO Steve Van Tassel said: "With Acon's experience supporting consumer brands and Fini's deep confectionery expertise, we are well-positioned to expand our reach, strengthen our innovation pipeline and bring YumEarth to even more families."
The deal brings together a U.S.-focused organic brand with a European confectionery manufacturer that has an established global distribution network. The partnership positions YumEarth to grow both domestically and internationally, though specific expansion plans were not outlined in the announcement.
