Apax Partners have announced completing the acquisition of Bazooka Candy Brands, a portfolio of non-chocolate confectionery brands.
Bazooka produces, markets and distributes a range of confectionery brands, including Ring Pop, Push Pop, Juicy Drop and Bazooka Bubble Gum. The company’s portfolio spans lollipops, gummies, chewy candy, gum and chocolate, packed in different formats to customers worldwide.
Over the past years, Bazooka’s US retail growth has significantly outpacked the confectionery category. In the year-to-date period through August 2023, retail sales have grown approximately 29% year-over-year. Effective upon the transaction’s closing, Tony Jacobs, longstanding President of Bazooka Candy Brands, has been promoted to CEO.
The Apax team, working in partnership with Bazooka’s management team, will look to stand the company up as an independent business and build on the success of Bazooka’s global portfolio of confectionery brands. In support of its growth efforts, the team will focus on distribution growth, product innovation, geographic expansion, and the strategic acquisition of brands in complementary categories.
“We’re incredibly excited to partner with Apax in this next stage of our growth journey. Bazooka will continue to build on our history of successful brand-building and innovation to drive outsized growth in the US and globally,” commented Tony Jacobs, Chief Executive Officer, Bazooka. “We have an incredibly talented team, and I’m very proud of the leadership position we’ve been able to establish in the marketplace. Together with Apax, we look forward to continuing to deliver truly differentiated and exciting products that customers love. I also want to thank our former owners, Tornante and MDP, as well as CEO Michael Brandstaedter, for their support and commitment to our brands, which have enabled our strong performance and have positioned the business for our next chapter of success.”
“This transaction is the culmination of an extremely successful and gratifying tenure of ownership of Bazooka, which would not have been possible without the foresight and leadership of Tornante’s incredibly talented President, Andy Redman,” said Michael D. Eisner. “Together with MDP, an exceptional and constructive partner throughout, and our outstanding corporate management, including Mike Brandstaedter and Tony Jacobs, we have grown Bazooka into a group of the most iconic candy brands on the market. We look forward to celebrating the company’s continued success from the sideline.”
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