Laura Secord up for sale
The Chicago-based parent company of Canadian candy maker Laura Secord is putting the 90-year-old company up for sale.
Laura Secord's corporate parent, Archibald Candy Corp., said Tuesday it has hired Paragon Capital Partners, LLC to explore strategic alternatives including a potential sale of the company.
Archibald said it is selling Laura Secord so the parent company can focus on its Fannie May and Fanny Farmer brands.
"The management team at Laura Secord will continue to pursue strategies to grow and enhance the business as this process unfolds," Tim Weichel, Laura Secord's executive vice president, said.
"We are committed to this great brand, and excited about the prospects for the company," he said.
Founded in 1913, Laura Secord was sold to Archibald by Nestle Canada 1999. Laura Secord operates 174 retail shops, distributes its products in more than 2,000 third-party retail outlets in Canada, and has 1600 employees in stores across the country. Laura Secord had $78.5 million in revenues in fiscal 2002.