Lolli & Pops acquires Hammond's Candies to foster growth push [Yahoo! Finance]
PNC Financial Services Group, Inc. (The) (PNC)
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am
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Source: Yahoo! Finance
The acquisition is a “significant milestone” in its growth strategy, Lolli & Pops, which was bought by private-equity firm TerraMar Capital in 2020, said in a statement. Financial terms of the transaction were not disclosed. However, Lolli & Pops said the deal was funded through a new revolving credit facility from PNC Bank, a term loan from Advantage Capital Management, and additional investment from TerraMar Capital. Established in 1920, Hammond's offers handcrafted candy canes, lollipops and other “classic” sweet treats. The acquisition is expected to allow Lolli & Pops to expand its offerings by integrating Hammond's brand and product range across its stores in the country and through its online platform. Lolli & Pops highlighted Hammond's century-long expertise in “quality and innovation,” saying the acquisition supports its goal to deliver “unique” candy experiences. The company added that it seeks to harness the “artisanal craftsmanship” of Hammond's to introduce “ne
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PNC
Earnings
- 10/15/24 - Beat
PNC
Sec Filings
- 11/18/24 - Form 4
- 11/15/24 - Form 144
- 11/13/24 - Form 4
- PNC's page on the SEC website