PE-backed Kar’s Nuts acquires Morley Candy Makers
Summary
MADISON HEIGHTS, MI – (October 24, 2018) – KNPC Holdco, LLC (“Kar’s Nuts”), a leading manufacturer of nut and trail mix snacks sold under the Kar’s® and Second Nature® brands, announced today the completion of its merger with Morley Candy Makers, LLC (“Sanders”), a maker of premium confectionary products sold under the Sanders Fine Chocolatiers® brand.Kar’s Nuts was founded in Detroit in 1933 by Sue Kar, who roasted peanuts in her home to sell outside nearby Navin Field, which later became Tiger Stadium.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.”Today, Sanders has grown into a nationally recognized producer of premium confections, artisanal chocolates, baked goods, dessert toppings and ice cream.