Printer Friendly

GHIRARDELLI CHOCOLATE COMPANY CONFIRMS PENDING SALE

 GHIRARDELLI CHOCOLATE COMPANY CONFIRMS PENDING SALE
 Retail Expansion, National Distribution Planned By New Owners
 SAN FRANCISCO, March 24 /PRNewswire/ -- Ghirardelli Chocolate Co. plans to expand retail shops, achieve national distribution and increase sourcing to manufacturers as part of an aggressive growth strategy by soon-to-be-new owners Thomas H. Lee Co. and the Carlin Investment Corp.
 Ghirardelli, founded in San Francisco in 1852, has been part of the Quaker Oats Co. since 1986. Quaker today announced a definitive agreement to sell and a closing date of March 31, 1992. Financial terms of the transaction were not announced.
 Thomas H. Lee Co. is a Boston-based investment firm which specializes in the acquisitions of companies with a strong growth potential. Carlin Investment Corp., a Chicago-based investment firm, is headed by John Anton, a well-known food industry executive who will become the new chief executive officer of Ghirardelli following the completion of the transaction.
 The company will remain in San Francisco.
 Anton said Ghirardelli will accelerate sales growth consistent with its current strategy which positions the company as "Ghirardelli -- The Premium American Chocolate Imported From San Francisco."
 Ghirardelli plans expansion of the Ghirardelli retail shops outside of San Francisco, and Anton said the company is committed to full distribution of its retail products nationally in gourmet food, department and gift stores. In addition, Ghirardelli will focus efforts on supplying premium chocolate as an ingredient to other manufacturers.
 Ghirardelli's long and rich history began on the San Francisco waterfront over 140 years ago. It was founded in 1852 by Domingo Ghirardelli and since that time has been known for its premium chocolate as well as its landmark location within the historic Ghirardelli Square waterfront area of San Francisco.
 "I am thrilled to be a part of the rich Ghirardelli history and brand," said new CEO Anton. "The major attractions of Ghirardelli are the Ghirardelli people who have developed our current strategy and who have set a solid foundation for future growth.
 "The loyal relationships which exist between Ghirardelli and its customers are further testimony to the outstanding quality of the company," he added.
 "All of us are looking forward to being a continuing part of Ghirardelli's success."
 -0- 3/24/92
 /CONTACT: John Anton of the Carlin Investment Corp., 312-263-4946; or Christine Fontana, 510-667-6028, or Andy Nestler, 510-667-6119, both of Ghirardelli Chocolate Co./ CO: Ghiradelli Chocolate Co. ST: California IN: FOD SU:


RM -- SF006 -- 1192 03/24/92 15:16 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 24, 1992
Words:405
Previous Article:CHURCH OF SCIENTOLOGY URGES IMMEDIATE SENATE ACTION AGAINST INTERPOL
Next Article:USSI SIGNS MARKETING AGREEMENT WITH IBM
Topics:


Related Articles
QUAKER ANNOUNCES AGREEMENT TO SELL GHIRARDELLI
GHIRARDELLI SQUARE SWEETENS NATIONAL TOURISM WEEK BY PASSING OUT FREE CHOCOLATE
Ghirardelli Chocolate Company To Serve Up Sweet Treats For Walt Disney World Guests
Free Chocolate on Valentine's Day at Ghirardelli Square
Ghirardelli Partners With Peak Technologies and Sonica Software For Warehouse Management System Solution.
Ghirardelli Introduces New Intense Dark Gourmet Chocolate Bars to Meet Growing Demand for More Sophisticated Chocolate Experiences.
Chocolate Lovers Make Baking Doubly Sweet This Holiday Season.
Ghirardelli Continues to Raise the Bar With Intense Dark(TM) Chocolate Line as Dark Chocolate Demand Skyrockets.
Ghirardelli Launches New Filled Premium Chocolate Bar Line.
Ghirardelli Launches Super-Premium Baking Line.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters