Stuffed Puffs Acquired; Penn. Facility to Close
Contract and private label manufacturer Mount Franklin Foods’ confectionary portfolio is growing with today’s announcement that it has acquired the assets of filled marshmallow maker Stuffed Puffs for an undisclosed sum. The deal is effective immediately.
“As we continue to evolve our business, the acquisition of Stuffed Puffs represents a significant step in broadening our confectionary portfolio. We are excited to wed our strengths with those of Stuffed Puffs and deliver even more value and innovation to our customers,” said Enrique Grajeda, CEO of Mount Franklin Foods, in a press release.
Per terms of the deal, Stuffed Puffs will shutter its Bethlehem, Penn. facility, according to a WARN notice submitted by the brand to the Department of Labor & Industry. The closure will affect 106 employees and is set to begin in October.
Founded in 2012 by Michael Tierney, Stuffed Puffs is best known for its proprietary technology for producing marshmallow products filled with milk chocolate and other ingredients. The brand’s current lineup includes The OGs (Classic Milk Chocolate Puffs and Salted Caramel Puffs) and Bites (S’Mores, Cookies ‘n Creme, Birthday Cake and Cinnamon Toast Crunch).
The company has benefited from celebrity investors like Grammy-nominated artist Marshmello and his manager, Moe Shalizi. According to today’s announcement, their reach was “pivotal” in connecting the brand with a broad audience.
Earlier this year, Stuffed Puffs reinvented its bestselling Classic Milk Chocolate Puffs, now featuring a ganache-style chocolate-base center. The brand also extended its soft center technology to the Salted Caramel Stuffed Puffs. Venturing beyond its classic offerings, Stuffed Puffs made its first foray into sour candy in March via a limited edition Easter launch with the Hershey-owned Jolly Ranchers brand.
“We are thrilled to join the Mount Franklin Foods Family. With a shared vision for the future of Stuffed Puffs, our strategic alignment with Mount Franklin Foods, together with its scale and resources, will be a major unlock for us to accelerate our growth trajectory and innovation pipeline,” said Tierney in a statement.
The North America marshmallow market size is projected to reach $535 million by 2028, growing at a CAGR of 6.61%, according to market researcher Fortune Business Insights. Growth in the sector is attributed to an increase in consumer demand for non-chocolate candies, as well as the permissible indulgence trend.
Mount Franklin Foods, founded in 1907, serves the retail and foodservice industries, manufacturing a variety of candy, mint and nut products, including gummies, jellies, mints, fruit snacks, and snack mixes under brands like Azar Nut, Sunrise Confections and Hospitality Mints. The acquisition aligns with the company’s strategic goal of diversifying and expanding its product offerings.
