Fannie May

Last updated
Fannie May Confection Brands, Inc.
Company type Subsidiary
Industry Food
Founded1920;104 years ago (1920) in Chicago, Illinois, U.S.
FounderH. Teller Archibald
Products Chocolate bars, bonbons
Parent Ferrero SpA (2017–)
Website fanniemay.com

Fannie May Confection Brands, Inc. is an American chocolate manufacturer headquartered in Chicago and currently owned by multinational company Ferrero SpA. [1] Fannie May manufactures a broad variety of products including enrobed, barks, caramels, squares, berries, twist wrapped, molded, flow wrapped, and boxed chocolates. Fannie May produces various candies without gluten, milk, honey, oil(s), wheat, and/or eggs for those with the relevant allergies. [2] The Union of Orthodox Jewish Congregations of America certified many of Fannie May's products to be kosher. [3] [4]

Contents

History

The first Fannie May shop was opened in 1920 by Henry Teller Archibald at 11 North LaSalle Street in Chicago, selling buttercream candies.

The Second World War made some of the ingredients in Fannie May's recipes hard to come by. However, they did not change their recipes, or change the candies' quality. [5]

In the mid-1980s the company opened its first store in Missouri. By the end of the decade, more than 250 locations were in operation, mostly in the Midwest. In 1992, the Archibald Candy Company expanded its business by acquiring chocolatier Fanny Farmer [6] and its 200 retail stores in the northeastern United States as a sister brand to Fannie May. [7]

The acquisition proved too much for Archibald, which filed for bankruptcy and closed more than 200 of its retail stores. An errant path of merger and acquisitions, whereby the company had become the largest chain of candy retailers in the country but without adequate financing and a viable corporate strategy, was blamed for the bankruptcy. [8]

In 2004 Alpine Confections purchased Archibald out of receivership, merged Fanny Farmer into Fannie May, and moved production to its own Green, Ohio-based Harry London Candies, which had been acquired a year earlier. Fannie May was reopened in October 2004 [9] with 45 retail outlets.

In April 2006, Fannie May was sold for $85 million plus an earnout to publicly traded Internet retailer 1-800-Flowers.com. [10] The chocolates and candy continued to be manufactured in Ohio under the name Fannie May Confections Brands Inc, while the Fannie May corporate headquarters remained in Chicago.

In March 2017 the Italian confectionery giant Ferrero SpA bought Fannie May and Harry London from 1-800-Flowers.com, for $115 million. [11] At the time Ferrero indicated that it hoped to expand Fannie May beyond its currently regional market. [12] [13] [14]

Products

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References

  1. ↑ Marton, Renee (May 1, 2007). Smith, Andrew F. (ed.). The Oxford Companion to American Food and Drink (Hardcover) (1st ed.). Oxford/New York: Oxford University Press. p. 213. ISBN   978-0195307962 . Retrieved August 4, 2014.{{cite book}}: |work= ignored (help)
  2. ↑ "Health & Chocolate - Fannie May". www.fanniemay.com. Archived from the original on 2013-01-31. Retrieved 2017-05-08.
  3. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2015-05-09. Retrieved 2017-05-08.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ↑ Genack, Rabbi Menachem (October 1, 2009). "Orthodox Union Letter of Certification" (PDF). Archived from the original (PDF) on May 9, 2015.
  5. ↑ "History of Chocolate". Fannie May. Archived from the original on August 10, 2014. Retrieved August 4, 2014.
  6. ↑ Poirier, Leon; Poirier, Rose. "Fanny Farmer: The Sweet Collectibles". Archived from the original on May 27, 2013. Retrieved August 3, 2014.
  7. ↑ "Fanny Farmer Parent Will Sell the Candy-Store Chain". The New York Times . August 5, 1992. Retrieved August 1, 2014.
  8. ↑ Schmeltzer, John (February 26, 2004). "Series of mistakes doomed candymaker: Some blame owner, strategy, but other causes listed too". Chicago Tribune . Articles.chicagotribune.com/. Retrieved August 3, 2014.
  9. ↑ "Alpine Confections Awarded Fannie May and Fanny Farmer Brands". Gourmetretailer.com. Retrieved 2013-04-22.
  10. ↑ "Paragon Capital Partners Completes Sale of Fannie May Confections Brands, Inc. to... - re> NEW YORK, May 2 /PRNewswire/". New York: Prnewswire.com. Retrieved 2012-03-07.
  11. ↑ Ferrero to purchase Fannie May on Candy Industry, March 16, 2017 by Alyse Thompson
  12. ↑ "Ferrero to purchase Fannie May Confections Brands for $115 million" . Retrieved 2017-05-08.
  13. ↑ "Ferrero International to acquire Fannie May Confections" . Retrieved 2017-05-08.
  14. ↑ Channick, Robert. "Italian maker of Nutella buys Fannie May". chicagotribune.com. Retrieved 2017-05-08.

Further reading

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