Funds advised by private equity firm Apax Partners LLP have acquired Bazooka Candy Brands, a portfolio of non-chocolate confectionery brands, from Michael D. Eisner‘s Tornante Company and funds affiliated with Madison Dearborn Partners.
Bazooka produces, markets and distributes a range of confectionery brands, including Ring Pop, Push Pop, Baby Bottle Pop, Juicy Drop and Bazooka Bubble Gum. The Apax team will look to stand the company up as an independent business and build on 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.
“Bazooka fits squarely within our team’s focus on investments in well-positioned consumer packaged goods categories, and we see a compelling opportunity to leverage our sector knowledge to help the company achieve its next phase of growth,” comments Nick Hartman, partner, Apax.
Macquarie Capital and Simpson, Thacher & Bartlett LLP served as financial and legal advisors, respectively, to Apax. Deutsche Bank and Kirkland & Ellis LLP served as financial and legal advisors, respectively, to Bazooka Candy Brands.