About the engagement
KPMG Corporate Finance LLC (KPMG CF) acted as exclusive financial advisor to Morley Candy Makers, LLC d/b/a Sanders Fine Chocolatiers® (“Sanders”) on its sale to KNPC Holdco, LLC (“Kar’s Nuts”), a portfolio company of an affiliate of Palladium Equity Partners, LLC.
Founded in 1875 and headquartered in metropolitan Detroit, Sanders is a nationally recognized manufacturer and marketer of premium indulgent confections, including artisanal chocolates, baked goods, dessert toppings and ice cream. The company also operates eight Sanders Chocolate & Ice Cream Shoppes primarily in the Metro Detroit area.
Kar’s Nuts, founded in 1933 and also based in the Detroit area, is a leading manufacturer of nut and trail mix snacks sold under the Kar’s® and Second Nature® brands, including the #1 selling Kar’s Sweet ‘n Salty Mix.
The transaction brings together two iconic brands with deep roots in the Detroit area and creates a leading platform within the snacking industry, offering a range of premium trail mix, nuts and confectionery products across three brands. The combined company will benefit from expanded national distribution, increased production capacity and unique product innovation capabilities.
Sanders CEO Brian Jefferson said, “As we explored strategic opportunities for Sanders®, it was critical to identify a partner who truly understood and valued our brand and our employees. We are extremely excited about this merger as we feel confident that it will preserve cherished Sanders products, bring a new level of creativity to our offerings that is sure to delight customers, and continue to take care of our employees.”
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