BBX Capital Acquires Jer's Chocolates
01 July 2014 - 11:14PM
Marketwired
BBX Capital Acquires Jer's Chocolates
A Niche in Luxury Chocolates & Home of the "Double Grin(TM)"
Guarantee
FORT LAUDERDALE,
FL--(Marketwired - July 01, 2014) - BBX Sweet
Holdings, a wholly-owned subsidiary of BBX Capital Corporation
("BBX Capital") (NYSE: BBX),
announced today that it has acquired the assets of Jer's
Chocolates.
Headquartered in Solana Beach near San Diego, California, Jer's
Chocolates, with its Award Winning peanut butter chocolate
products, has created a niche in the gourmet luxury chocolate
world. With its core flavors of chocolate and natural peanut
butter, Jer's decadent flavors include combinations with rice
crisp, pretzel, toffee, and caramel.
Jer's specialties include its gourmet peanut butter chocolate
confections, which come in its patented "Double Grin" shaped
assorted chocolate boxes, Peanut Butter Bars and Squares. In
addition to Jer's peanut butter offerings, it has recently expanded
its product line to include some All Natural non peanut butter
items, as well. Jer's corporate gift chocolate boxes and
peanut butter chocolate gift boxes have been featured on the Home
Shopping Network, QVC, The Food Network, and the Rachael Ray
Show. Jer's Chocolates is distributed internationally, and
within the US, has customer distribution in numerous sales
channels. Jer's brand story and award winning chocolates have
created a fanatical customer base. Products are both ideal for
everyday treats and for special seasonal occasions.
"BBX Sweet Holdings acquired Hoffman's Chocolates in December
2013 and Williams & Bennett in January 2014, and we are
extremely pleased to now announce our most recent acquisition of
Jer's Chocolates. We believe Jer's Chocolates is an ideal fit
to our platform and we welcome CEO Jerry Swain and the Jer's brand
to our family of BBX Capital companies," commented Mr. Jarett
Levan, President of BBX Capital.
"Jer's started in my parent's kitchen where we created
all-natural peanut butter, hand-rolled ball-shaped treats as gifts
for my friends and family and for an annual fundraiser for the
local food bank. We've been fortunate to receive honors like
"Best Chocolate Bar" at the annual New York Chocolate Show and
"Best of Show" at the Retail Confectioners International Annual
Convention, and we have always strived to produce high quality,
best tasting chocolate creations," commented Mr. Jerry 'Jer' Swain,
Founder and CEO of Jer's Chocolates. "I am delighted to be
part of the BBX Sweet Holdings family and excited about the
opportunities and resources that BBX Capital brings to Jer's
Chocolates."
About BBX Capital
Corporation: BBX Capital, a New York Stock Exchange
listed company (NYSE: BBX), is
involved in the acquisition, ownership and management of, and joint
ventures and investments in real estate and real estate development
projects as well as investments and management of middle market
operating businesses. In addition, BBX Capital and its holding
company, BFC Financial Corporation, have a 46% and 54% respective
interest in Bluegreen. Bluegreen manages, markets and sells
the Bluegreen Vacation Club, a flexible, points-based, deeded
vacation ownership plan with more than 180,000 owners, over 60
owned or managed resorts, and access to more than 4,000 resorts
worldwide.
As of March 31, 2014, BBX Capital had total consolidated assets
of $416.9 million, shareholders' equity attributable to BBX Capital
of approximately $304.6 million, and total consolidated equity of
approximately $305.7 million, and its book value per share was
$19.03.
For further information,
please visit our family of companies: BBX Capital:
www.BBXCapital.com Bluegreen Corp.: www.BluegreenVacations.com
Renin Corp.: www.ReninCorp.com BBX Sweet Holdings includes
Hoffman's Chocolates: www.Hoffmans.com, Williams & Bennett:
www.WilliamsandBennett.com, and Jer's Chocolates: www.Jers.com
RoboVault: www.RoboVault.com BFC Financial Corp.:
www.BFCFinancial.com
About BFC Financial
Corporation:
BFC (OTCQB: BFCF) is a holding
company whose principal holdings include a 52% ownership interest
in BBX Capital Corporation (NYSE:
BBX) and a 54% ownership interest in Bluegreen
Corporation. As of March 31, 2014, BFC had total consolidated
assets of approximately $1.4 billion, shareholders' equity
attributable to BFC of approximately $243.1 million, and total
consolidated equity of approximately $430.2 million. For more
information, visit www.BFCFinancial.com.
This press release contains forward-looking
statements based on current expectations that involve a number of
risks and uncertainties. All opinions, forecasts, projections,
future plans or other statements, other than statements of
historical fact, are forward-looking statements. The forward
looking statements in this press release are also forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended (the "Securities Act"), and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and involve substantial risks and uncertainties. We can give no
assurance that such expectations will prove to have been
correct. Actual results could differ materially as a result of
a variety of risks and uncertainties, many of which are outside of
the control of management. These risks and uncertainties include
the impact of economic, competitive and other factors affecting BBX
Capital and its operations, markets, products and services, as well
as others including but not limited to: that the Company may not
realize the anticipated benefits or generate profits from its
investments and/or acquisition transactions; the risk that the
integration of Jer's Chocolates may not be completed on a timely
basis, or as anticipated; that Jer's products may not be well
accepted or receive recognition or awards in the future; or that
the Jer's Chocolates acquisition may not be advantageous to BBX
Capital. In addition to the risks and factors identified
above, reference is also made to the risks and uncertainties
detailed in reports filed by BBX Capital with the SEC, including
the "Risk Factors" sections thereof, which may be viewed on the
SEC's website at www.sec.gov. The Company cautions that the
foregoing factors are not exclusive.
BBX Capital Contact
Info: Media contact: Caren Berg Boardroom Communications
(954) 370-8999 Email: cberg@boardroompr.comInvestor Relations: Leo
Hinkley Managing Director, Investor Relations Officer 954- 940-5300
Email: InvestorRelations@BBXCapital.com
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