US-based Bazooka Candy Brands has secured more than $10m from Patricof Co, a private investment platform for professional athletes.
According to news agency Bloomberg, the candy maker’s owner, London-based investment firm Apax Partners, has raised more than $10m “from a group of athletes”. The company didn’t disclose financial details.
The list of investors includes star athletes such as NFL player DK Metcalf and NBA athletes Derrick White and Cade Cunningham. Former NFL star Jason Kelce and ex-New York Yankee CC Sabathia were also among the investors.
Tony Jacobs, CEO of Bazooka Candy Brands said: “Now, with the support of Patricof, we can take this notion to the next level, with a roster of athletes that agree on the importance of making room for play and share our desire to bring generations of fans exceptional experiences worldwide.”
Last August, Apax Partners struck a deal to buy the Push Pop brand owner.
The move reportedly cost it around $700m
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Prior to the acquisition, Bazooka Candy Brands was owned by Tornante, the private investment firm of former Walt Disney CEO Michael Eisner, and by private-equity firm Madison Dearborn Partners.
Following the buy-out, in October last year, the confectioner announced that it promoted previous company president Jacobs to CEO. Jacobs served Bazooka as a president for nearly two years prior to this.
Investor DK Metcalf from American football team Seattle Seahawks said: “The company’s innovative take on candy and ability to continually launch so many new products is something I’ve always admired. I’m thrilled to be an investor and to help write the next chapter of the Bazooka Candy Brands story.”
Deja Kelly, a player of with North Carolina Tar Heels added: “Bazooka Candy Brands’ emphasis on entertainment is perfect for athletes like me that pride ourselves on having diverse talents both on and off-court”.
Bazooka Candy Brands, based in New York, is a division of The Bazooka Companies. Its portfolio includes brands such as Ring Pop, Baby Bottle Pop and Bazooka bubble gum.
Patricof, also based in New York, partners with professional athletes to source direct investments and “drive superior returns”.
