Pearson Candy Co., the maker of Salted Nut Rolls and Nut Goodies, has acquired Bit-O-Honey from Nestle USA, Inc., the Pioneer Press reports. The St. Paul company will produce the classic 90-year-old confectionery brand at its Minnesota factory. Financial terms of the agreement were not released.
"We are excited to announce the acquisition of the Bit-O-Honey brand," Michael Keller, President and CEO of Pearson Candy said in a news release. "We look forward to adding the brand into Pearson's, which is known for its Pearson's® Salted Nut Roll, Pearson's® Mint Patties, Pearson's® Nut Goodies and Pearson's® Bun. We plan to bring renewed focus to the Bit-O-Honey brand by increasing its availability to consumers and by offering customers new and innovative Bit-O-Honey products."
Keller told Twin Cities Business the deal could create 30 new jobs at Person's St. Paul operation.
Brynwood Partners, a private equity firm in Connecticut, bought Pearson Candy in August 2011.