Macy’s, Inc. Sells Ownership of Frango to Garrett Brands
January 30 2017 - 7:00AM
Business Wire
Brands Legacy Aligns with Purchaser’s Growth
Strategy
Macy’s, Inc. (NYSE:M), one of the nation’s premier retailers,
and Garrett Brands, owner of Garrett Popcorn Shops, today announced
that they have entered an agreement by which Garrett Brands will
acquire Frango®, a distinguished, premium chocolate brand, from
Macy’s, Inc.
As the owner of Frango, Garrett Brands will develop, create,
sell and distribute Frango products consistent with the brand’s
legacy as a superior chocolate and confectionary brand. Macy’s,
Inc. will continue to sell Frango products in the Frango Café at
Macy’s State Street store in Chicago, at more than 350 additional
Macy’s store locations in the United States, and online at
macys.com. The Chicago and Seattle markets hold the greatest brand
history, dating back to 1918, but over the years, the Frango
business and awareness has grown to many other states through
Macy’s, Inc. distribution and stewardship.
“Frango is a perfect fit for our company’s portfolio, aligning
well with our strategy to preserve and grow iconic brands that have
historic franchise value with a unique and storied past,” said
Lance Chody, owner and CEO of Garrett Brands. “This is an exciting
opportunity to expand the reach and offerings of the delicious
Frango confections consumers know and love to more people in more
places, just as we have done with our other brands.”
Maneesha Khandelwal, senior vice president of Garrett Brands,
added, “We are committed to preserving Frango’s highest standards
of taste and quality, and its heritage in Chicago and Seattle as
key pillars of building on the brand’s identity.”
“We are happy to have found such a natural partner in Garrett
Brands and are confident they will be great stewards of the Frango
brand,” said Tim Baxter, chief merchandising officer at Macy’s,
Inc. “We will continue to offer Macy’s customers the Frango
products they love online and at Macy’s stores in Chicago, Seattle
and across the country. And, given Garrett Brands’ history of
thoughtfully growing brands, we are confident that this partnership
will introduce new customers to premium Frango chocolates.”
About Macy’s, Inc.
Macy’s, Inc., with corporate offices in Cincinnati and New York,
is one of the nation’s premier retailers, with fiscal 2015 sales of
$27.079 billion. The company operates more than 700 department
stores under the nameplates Macy’s and Bloomingdale’s, and
approximately 125 specialty stores that include Bloomingdale’s
Outlet, Bluemercury and Macy’s Backstage, in 45 states, the
District of Columbia, Guam and Puerto Rico, as well as the
macys.com, bloomingdales.com and bluemercury.com websites.
Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a
license agreement.
About Garrett Brands LLC
Garrett Brands LLC is privately held and operated by Lance Chody
and his family. The company owns Garrett Popcorn Shops® and has
corporate offices in Chicago and Hong Kong. Garrett Popcorn Shops®
offer handcrafted, artisanal popcorn in nine countries and on the
garrettpopcorn.com website. Since 1949, the company has established
itself with Sweet and Savory confectionary flavors, including the
combination of its CaramelCrisp® and CheeseCorn recipes famously
born in Chicago and known as Garrett Mix®. The company’s other
flavors include chocolate offerings and country-specific
recipes.
About Frango
Frango® is a premium chocolate brand with an iconic history
rooted in Chicago and Seattle, dating back to 1918. Frango’s
delicious chocolate collections – including its core flavor
products, original Chicago recipes and Frederick & Nelson
recipes – have served as thoughtful gifts for decades, bringing joy
to consumers around their most special occasions. Originally
developed by Seattle’s Frederick & Nelson department store,
Frango was introduced to the Chicago market when Marshall Field’s
acquired Frederick & Nelson. Since taking ownership of Frango
through its merger with Marshall Field’s, Macy’s has preserved
Frango’s beloved tradition in Chicago and Seattle, and has expanded
the Frango legacy through broad online distribution on
macys.com.
(NOTE: Additional information on Macy’s, Inc., including past
news releases, is available at www.macysinc.com/pressroom)
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version on businesswire.com: http://www.businesswire.com/news/home/20170130005235/en/
Macy’s Media – Blair Fasbender / Melissa Epstein,
212-333-3810orMacy’s Investors – Matt Stautberg,
513-579-7780orGarrett Brands Media - Michelle Molise,
313-549-3137MMolise@MolisePR.com
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