Ferrara Pan in Merger Talks With Farley's & Sathers

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Ferrara Pan in Merger Talks With Farley's & Sathers


FOREST PARK, Ill. -- Sales talk around Ferrara Pan Candy Co., maker of Atomic Fireballs, is heating up, according to Crain's Chicago Business.

The news outlet reported that Ferrara, also known for its Lemonheads candy brand, is in early-stage talks to become a part of Farley's & Sathers Candy Co.

If the deal is consummated, Ferrara Pan -- currently valued at $400 million -- would sell a majority stake to Farley's. Salvatore Ferrara II, CEO of Ferrara Pan, would become CEO of the combined company, the news outlet stated.

Round Lake, Minn.-based Farley's, maker of Brach's, Fruit Stripe and Chuckles products, told its employees that it signed a letter of intent to make the deal with Ferrara Pan, reported Crain's.

However, the deal could still fall through. Farley's CEO Liam Killeen declined to comment when reached by the newspaper. It's unknown what Killeen's role with the new company would be.

Farley's is owned by private equity firm Catterton Partners Corp. and has about $615 million in sales, according to the news outlet.

Word of the possible merger follows news that Ferrara Pan Chairman Nello Ferrara, father of Salvatore, passed away Feb. 3.