Today, we’re talking about three very important trending topics:
The rise of comfort food: The Wall Street Journal reported that comfort foods have made a comeback in the Coronavirus age, and the demand for small luxuries, like food and candy, are at an all-time high, which also includes the confidence and security we have at this time in brands we trust, and there’s no one better to address this topic than one of North America’s largest confectionary companies.
The shifting landscape beneath us: Mergers, acquisitions, and private equity. Lance is an expert in M&A, it’s his passion (as will be evident as you listen). Mergers and acquisitions are highly active in a depressed economy and now, it’s no longer merely suppliers who are interested in mergers and acquisitions but distributors as well, as we’ve seen M&a activity increase in recent years on the distributor side too.
Successful negotiation strategies: Lance has worked in M&A and private equity his entire career thus far and leads Nassau through a tremendous new era of growth, his insights into how to negotiate a successful partnership are tremendous.
About our guest:
Lance Stier is an owner of Nassau Candy. If you haven’t heard of Nassau, they are one of those sleeping giants in our industry yet with a very strong partner-business model. Nassau was founded in 1920 as a supplier in New York City to those old school ice cream parlors and soda fountain shops and today, they have over 1100 associates in 4 divisions: a specialty candy division, mass market, gourmet and natural foods, and their customization business, which most of us are familiar with through companies like Chocolate Inn and Lanco. And breaking news, announced just this week, the addition of Mrs. Fields, which represents a continuation of their ongoing partner brand strategy with brands like Godiva, M&Ms, Jelly Belly, and Lindt.
As CEO of NC Custom, Nassau Candy’s customization business, Lance has led organic and M&A growth throughout the U.S. and Canada, including the acquisitions of Chocolate Inn, Taylor & Grant, A La Carte, PLEG, AmuseMints, Lanco, Stitches In View, SPD, Shoreline and Pennsylvania Dutch, forming a vertically integrated top-40 ASI supplier, making them the largest food supplier in the promo industry with a growing hard goods, apparel, and personal care product line. At Nassau, Lance is Head of Business Development and leads M&A, strategy, and financing. He was previously a private equity investor with Paine + Partners and Wellspring Capital, and completed investments in the consumer, food, and retail sectors investing over $1 billion of equity capital. Prior to entering private equity, he was an investment banker at Lehman Brothers, where he completed over $20 billion of M&A / LBO transactions in food, retail & consumer.
Join us for a rich and wide-ranging conversation, not only about the rise of comfort food and M&A, but also the impact of private equity, the negotiation of the deal, and the vital importance of strategic partnerships.