Owner Of Godiva Chocolates To Buy U.S. Candy Maker DeMets

The Turkish owner of Godiva Chocolates is acquiring the 116-year-old U.S. firm DeMet's Candy Company, creator of Flipz chocolate pretzels and Turtles covered nut clusters, for $221 million. DeMet’s was acquired in 2007 from Nestle SA by Brynwood Partners, a private U.S. equity firm. Yildiz Holdings AS, owner of the Godiva chocolate brand, is Turkey’s largest  food group. As part of the deal, Brynwood will also sell two U.S. factories. The transaction is expected to close this month.