Food and Beverage Business
Finance

US athletes investment platform Patricof invests $10m in Bazooka Candy

US athletes investment platform Patricof invests $10m in Bazooka Candy Bazooka Candy Food and Beverage Business

Bazooka Candy Brands, a US-based confectionery company, has secured over $10m in funding from Patricof Co, a private investment platform for professional athletes. According to reports from Bloomberg, the company’s owner, London-based investment firm Apax Partners, raised the funding from a group of athletes, including NFL player DK Metcalf, NBA athletes Derrick White and Cade Cunningham, as well as former and current New York Yankees players CC Sabathia and Kylie and Jason Kelce.

Tony Jacobs, CEO of Bazooka Candy Brands, expressed his enthusiasm for the partnership with Patricof, stating, “Now, with the support of Patricof, we can take this notion to the next level, with a roster of athletes that agree on the importance of making room for play and share our desire to bring generations of fans exceptional experiences worldwide.”

Last August, Apax Partners acquired Bazooka Candy Brands, including the Push Pop brand, in a deal reportedly costing around $700m. Prior to the acquisition, the company was owned by Tornante, the private investment firm of former Walt Disney CEO Michael Eisner, and by private-equity firm Madison Dearborn Partners.

Following the acquisition, Bazooka Candy Brands promoted former company president Jacobs to CEO, announcing the transition in October last year. Investor DK Metcalf praised the company’s innovative approach to candy and product launches, while Deja Kelly commended its emphasis on entertainment, aligning with athletes’ diverse talents on and off the field.

Based in New York, Bazooka Candy Brands is a division of The Bazooka Companies and boasts a portfolio of popular brands such as Ring Pop, Baby Bottle Pop, and Bazooka bubble gum. Patricof, also headquartered in New York, collaborates with professional athletes to drive direct investments and achieve superior returns in the market.

Transitioning to new developments and collaborations within the food and beverage industry, partnerships like the one between Bazooka Candy Brands and Patricof Co highlight the growing interest of athletes in investing in consumer goods companies, tapping into emerging trends and market opportunities. The alignment of sports and entertainment with innovative product offerings positions Bazooka Candy Brands for continued growth and success in the competitive confectionery market.

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