BIP Candy & Toys acquires Berlin confectioner IFC-International Food
BIP Candy & Toys Germany has acquired the operating business of IFC-International Food, a Berlin-based manufacturer of children’s confectionery products.
The financial details of the transaction have not been disclosed by either company.
BIP Candy & Toys Germany is a subsidiary of BIP Holland, which manufactures and sells the licensed confectionery.
On 31 January, IFC filed for insolvency after it lost one of its main licensors.
It anticipates that this acquisition would strengthen and expand its business in the German market.
BIP Candy & Toys Germany managing director Rogier Korsmit said: "With the takeover of IFC, we will now be able to implement our expansion plans much faster in the German market, a market that is very important for us.
"IFC offers an attractive portfolio and employees with many years' experience, so we're gaining in both these areas."
With this acquisition, BIP will become the exclusive German distributor of PEZ brand products and its licensed confectionery.