An iconic Minnesota candy company is fully Minnesotan once again.
Pearson's Candy Company, which is known for Salted Nut Rolls and Nut Goodies, has been purchased by Spell Capital Partners, a Minneapolis-based private equity firm.
The candy maker, which was founded in Minneapolis in 1909, had been under the ownership of a Connecticut firm since 2011.
"Spell Capital will use its expertise in acquisitions and financing to help Pearson’s transform its operations and facility to remain competitive and continue to provide the high-quality candy and great brands... that so many have come to love," the company announced in a press release late Friday.
Though it didn't elaborate any further on what that transformation will entail, Spell Capital says Pearson’s employees and top leadership "will remain in place" – meaning St. Paul, where Pearson's is headquartered.
The release did not specify how much the candy company sold for.
Pearson's has been expanding its portfolio of candies in recent years. In 2013, it bought the Bit-O-Honey brand from Nestle, and last year, it rolled out its first new original brands since the Great Depression: a healthier line of sweets called 7th Street Confections.
Last month, it got in on the craft brewing craze with Nut Goodie Porter, a beer from Tin Whiskers Brewing Co.: