Harris Williams Advises Pearson Candy Company on its Sale to Spell Capital Partners

November 19, 2018

Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Pearson Candy Company (Pearson’s), a portfolio company of Brynwood Partners VI L.P., on its sale to Spell Capital Partners (Spell Capital). Pearson’s is a historic, Minnesota-based company with a portfolio of iconic brands. The transaction was led by Glenn Gurtcheff, Ryan Freeman and Richard Furseth of the Harris Williams’ Consumer Group.

“Investors were attracted to the strength of Pearson’s iconic brands, which are well-known by many consumers both nationally and in particular across the Midwest,” said Ryan Freeman, a director at Harris Williams. “Advising an iconic company here in Minnesota has special meaning to our Minneapolis-based team.”

“Finding a partner like Spell Capital who appreciates what Pearson’s means to the community was important to management, our client and the Harris Williams team,” added Glenn Gurtcheff, a managing director at Harris Williams. “We look forward to following Pearson’s in the future.”

Headquartered in St. Paul, Minnesota, Pearson’s has operated for more than 100 years in the confections industry. Pearson’s currently manufactures and markets five heritage brands including Bit-O-Honey®, Salted Nut Roll®, Mint Patties, Nut Goodie® and Bun Bar®.

Founded in 1984 and based in Greenwich, Connecticut, Brynwood Partners is an operationally focused private equity firm that makes control investments in North American-based lower-middle market companies in the consumer sector. Brynwood Partners currently manages more than $1.1 billion of private equity capital for limited partners, which include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions.

Spell Capital is an established manager of private equity and mezzanine capital based in Minneapolis, Minnesota. Founded in 1988, Spell Capital has over 30 years of successful industry experience. Currently, the firm manages over $600 million of capital (AUM) and is investing its fifth private equity buyout fund, Spell Capital Partners Fund V. Additionally, the firm is investing its second mezzanine fund, Spell Capital Mezzanine Partners II.

Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams’ Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail.  For more information on Harris Williams’ Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.