Malley’s Candies

Malley’s Candies is a manufacturer and multi-unit retailer providing specialty confectionary products across Northeast Ohio. As a regional institution for over 88 years, the Company was owned by the founding family, now in its 3rd generation. Carleton McKenna was engaged as a sell-side advisor to help the six sibling owners bring in a strategic partner to sell or recapitalize the business and allow some of the siblings to take chips off the table and transition out. Some of the family members wanted to stay in the business, so it was important for the selected investment partner to recognize the family legacy and maintain the community-oriented and high-quality reputation within Northeast Ohio.

Carleton McKenna ran an extensive and competitive, but confidential marketing process, and was able to minimize rumors of a transaction within the close-knit Cleveland community. Given the family’s desire to retain meaningful equity and operating participation, Carleton McKenna focused on family offices and longer-hold investment firms with strong experience in the food and beverage, confectionary and retail spaces. CM&Co was able to drive the highly experienced, structurally flexible and preferred partner to an increase of 10% beyond their initial IOI submission. Further, all family members were able to roll-over their respective desired amount of equity and have the option of continuing operationally or not.