Garrett Brands has entered an agreement with US-based retailer Macy’s to acquire its premium Frango chocolate brand.
Upon completion, Garrett Brands will develop, create, sell and distribute Frango products while Macy will continue to retail them.
Garrett Brands owner and CEO Lance Chody said: “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."
Macy’s will continue to sell Frango products in Frango Café at Macy’s State Street store in Chicago, at more than 350 additional Macy’s store locations in the US, as well as through its website.
Macy’s chief merchandising officer Tim Baxter said: “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.
“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.”
Financial details of the deal have not been revealed by neither company.
Macy’s operates more than 700 department stores under the Macy’s and Bloomingdale's brands, as well as approximately 125 speciality stores across 45 states, the District of Columbia, Guam and Puerto Rico.
Bloomingdale’s in Dubai is operated by Al Tayer Group under a license agreement.