Brynwood Partners’ portfolio company, Pearson Candy Company, has acquired the Bit-O-Honey confectionery brand from Nestle. The acquisition marks the fifth brand Brynwood Partners has acquired from Nestle. Terms and conditions of the transaction were not disclosed.
The year appears to be off to a good start and CVS executives were optimistic Wednesday morning as the company pulled in a “strong” first quarter and narrowed its 2013 guidance to reflect higher-than-expected performance.
Publix posted first quarter sales of $7.5 billion, representing a 6.1% increase. The Easter holiday in the first quarter of 2013, which was in the second quarter of 2012, increased sales by approximately 1.3%, the grocer noted.
Jo-Ann Fabric and Craft Stores has hired former Disney and J.C. Penney’s executive Kris Arabia as VP of product development. Arabia will report to SVP and chief marketing and merchandising officer Riddianne Kline.