Alpine Confections acquires Fannie May, Fanny Farmer brands

摘要

After weeks of speculation and turmoil following a confidential memo passed onto union workers stating the company was planning to file for Chapter 11, Chicago-based Archibald Candy Corp. announced on Jan. 14 that it had signed a preliminary agreement to sell its Fannie May, Fannie Farmer brands to Alpine, Utah-based Alpine Confections. Earlier in the month, Archibald had informed workers that it was closing down its Chicago manufacturing plant as well as shuttering all of its 228 retail stores located throughout the Midwest, 122 of which are located in the Chicago area. However, Archibald's Canadian subsidiary, Laura Secord, is not affected by the deal (See Newsletter section, p. 11 for additional details).