Hammond’s Candies will buy Old Dominion Peanut Co. Inc. from the Virginia Food Group Inc. for an undisclosed amount.
Old Dominion, headquartered in Norfolk, Va., manufactures and markets peanut brittle and peanut candy in the U.S.
Denver, Colo.-based Hammond’s makes candy, including lollipops, candy canes and ribbon candy. The company bought McCraw’s Candies in 2010, and has expanded its product lines to include dips, pretzels, caramel corns and chocolate bars.
MSG Capital Corp. provided senior and subordinated financing, and Cambridge Information Group provided equity capital for the deal.
Matrix Capital Markets Group served as Old Dominion’s financial adviser. Edmunds & Williams was Virginia Food’s legal counsel, while Thomas Genshaft Cramer was Hammond’s legal counsel.
The deal comes on the heels of other food M&A transactions, such as Nonni’s purchase of La Dolce Vita, Hormel Foods’ $700 million Skippy peanut butter buy and High Road Capital Partners’ purchase of Ry-Con Specialty Foods Inc.