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Credit: Kilwins Quality Confections
Petoskey-based Kilwins Quality Confections has 150 locations across 25 states.
March 08, 2023 07:45 AM
Two well-known Michigan food brands are under new ownership.
Petoskey-based Kilwins Quality Confections was sold to Beverly Hills, Calif.-based private equity firm Levine Leichtman Capital Partners.
Kilwins — a manufacturer, distributor and retailer of chocolate, ice cream and confections — was founded in 1947 and has since opened 150 locations across 25 states. Most of the locations are franchises. Levine Leichtman Capital Partners specializes in investing in franchises and multi-unit retailers, including acquisitions of companies including Tropical Smoothie Cafe, Nothing Bundt Cakes, Mountain Mike's Pizza and Wetzel's Pretzels.
Kilwins owners Robin and Don McCarty have owned the business since 1995 and will retain an ownership interest in the company.
Meanwhile, Traverse City-based Great Lakes Potato Chips was sold to two Chicago-based investment companies, LaSalle Capital and Lightspring Capital. The deal was made to help accelerate the growth of the potato chip company, which was founded in 2009 by Ed Girrbach and his son, Chris.
Grand Rapids-based law firm Varnum LLC helped represent both companies in their sales. Terms of the deals were not disclosed.
By: Pat Evans , Grand Rapids Business Journal
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March 08, 2023 at 07:41PM
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Kilwins, Great Lakes Potato Chips sold to investment firms - Crain's Detroit Business
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