U.S. sweets retailer will expand BBX Capital’s footprint in the confectionary space.
NORTH AMERICA- BBX Capital has acquired specialty U.S. candy retailer IT’Sugar for approximately $57 million.
IT’Sugarwill operate within BBX Sweet Holdings vertical, which also includes Hoffman’s Chocolates.
BBX Capital plans to further expand IT’Sugar, which currently has 95 locations in 26 states and Washington, D.C., by opening new retail locations in high-traffic leisure locations across the U.S.
IT’Sugar founder and chief executive officer Jeff Rubin will remain in his current position.
“We are pleased to announce our investment in IT’Sugar and believe the business is an excellent fit with the growth strategy of BBX Sweet Holdings,” says Jarett Levan, president, BBX Capital. “IT’Sugar has had great success expanding its presence across the United States as a modern day candy playground, and we are very pleased to partner with Jeff Rubin and the IT’Sugar management team to support continued expansion of its retail footprint and grow the brand in other channels.”