CONCORD, ONTARIO—(June
27, 2003) —
Concord
Confections, Inc., manufacturers of the world’s first bubble gum brand
Dubble Bubble, announce the purchase of the Philadelphia Chewing Gum
Corporation, for an undisclosed sum. The Philadelphia Chewing Gum
Corporation is a 55 year old business, headquartered in Havertown,
Pennsylvania. The purchase includes several popular and proprietary
brands including Swell bubble gum, El Bubble gum cigars, Cry Baby extra
sour bubble gum, Gold Rocks Nugget Bubble Gum, Joe Blo giant size bubble
gum and many more. Under the new ownership, the existing Philadelphia
Chewing Gum Corporation brands and products will continue to be
manufactured and marketed, ensuring a seamless transition for retail
customers, with all current product available for standard ordering and
shipping.
Key executives,
including Edward L. Fenimore, the son of the company’s founder, and
grandsons Edward P. Fenimore II and Richard L. Fenimore, will be joining
Concord Confections in consultative and executive roles respectively, to
carry forward the quality and heritage of the Philadelphia Chewing Gum
brands under the new ownership.
Concord Confections plans to continue
Philadelphia Chewing Gum Corporation operations at the Havertown,
Pennsylvania facility. Product development, sales and marketing will be
handled by
Concord Confections' head office and through the current
Concord broker network.
"The combination of
Concord Confections and the Philadelphia Chewing Gum Corporation
establishes a powerhouse in the bubble gum and confectionery category,
with both companies having strong, established and sought-after brands,"
states Bruce Weiner, Executive Vice President of
Concord Confections.
"Their line-up is 100% compatible and complimentary to our portfolio, and
there are many synergies between the Philadelphia Chewing Gum Corporation
with its 55 year history and our leading bubble gum brand,
Dubble Bubble,
which is celebrating its 75th anniversary this year."
"For
our retail customers, this means an even wider variety of gum and
confectionery products are available through a single source, which
significantly helps streamline their operations and drive costs out of the
supply chain," adds Weiner. "In addition to the already popular
proprietary products in the Philadelphia Chewing Gum line,
Concord Confections will leverage the combined strength of the two organizations
to infuse research and development resources to drive further innovation
moving forward."
Having been founded in
1946, 18 years after
Dubble Bubble entered the market as the world’s first
bubble gum, The Philadelphia Chewing Gum Corporation was one of only two
new bubble gum companies that survived the bubble gum industry expansion
after World War II. Through the years, Philadelphia Chewing Gum has
consistently developed new, novel and often exclusive bubble gum, chewing
gum and pressed dextrose candy products. The brands and products in the
Philadelphia Chewing Gum Corporation line are sold in all classes of
trade, including bulk and retail goods, both in the US and abroad.
Concord Confections is
one of the largest manufacturers of bubble gum in the world and
manufacturer of
Dubble Bubble, the world’s first bubble gum.
Concord Confections established its leadership position with the introduction of
innovative brands in the gum category including Tear Jerkers – "The
original extra sour gum ball" – and Tongue Splashers – "The gum ball that
paints your mouth with a splash of color." Founded in 1986,
Concord Confections' packaged goods, bulk, bulk vending and private label products
can be found in mass merchandise, grocery, drug, convenience, toy and
wholesale outlets worldwide.
