Whitman's Acquires Pangburn Trademarks

Whitman's Candies, Inc., an affiliate of Russell Stover Candies, Inc. (Kansas City, MO), has acquired the trademarks of Pangburn Candy Co. for $4.5 million. Pangburn, which filed for bankruptcy on Feb. 1, 1999, has been a Fort Worth-based business since 1914 and manufactures the Millionaires brand candy.

Pangburn's products now will be manufactured at Russell Stover's new Corsicana, TX plant, scheduled to open Friday, Apr. 9, 1999. This plant will employ between 600 and 800 people, making Russell Stover the largest employer of all chocolate manufacturers in Texas, according to the Texas Workforce Commission. Worldwide, the company currently has 6,100 employed workers.

"Adding the great name of Pangburn Candy Co. to our list of fine chocolates will enhance the quality of our brands," stated Scott Ward, co-president of Russell Stover. "By opening our new factory and preserving the well-loved Pangburn's name, Russell Stover and Whitman's is more committed than ever to the people of the great state of Texas."

Russell Stover acquired the Whitman's brand in 1993.