Chocolate Inn / Taylor & Grant Parent Completes Lanco Acquisition
NC Chocolate Manufacturing LLC (NCCM), parent company of supplier Chocolate Inn / Taylor & Grant (PPAI 111662), has finalized its acquisition of the assets of supplier Lanco Corporation (PPAI 112333). The purchase agreement and associated financing was first reported last month in PPB Newslink.
The acquisition marks NCCM’s sixth acquisition in the promotional products market, its largest acquisition to date, and its first significant expansion beyond the food category. The Lanco acquisition adds a range of new products to NCCM’s offerings, including an extensive lineup of drinkware, bags, hand sanitizers, lip balms, microfiber products and technology accessories, among others. Lanco will retain its name and will continue to operate in its existing facility.
Lance Stier, managing member of NCCM, says the acquisition also significantly expands Lanco’s presence in the food category, where it has been a longtime leader in chocolate foiled squares and other edibles.
“We are also proud to retain 100-plus jobs on Long Island and to continue to support Long Island manufacturing as a leader in the promotional industry,” he says.
David Miller, president of Chocolate Inn / Taylor & Grant, adds, “We believe these businesses are highly synergistic. Our customer bases and product lines are highly complementary. Plus, we are very excited to invest capital into developing new products and new capabilities for our expanding customer base.”
The company expects to unveil a “Best of Chocolate Inn / Lanco” catalog in January, featuring the best-sellers from each of its businesses. It will also be actively developing new kits featuring best-selling products from both lines.
“I am thrilled to have Lanco join the Chocolate Inn family,” says Scott Slade, president of Lanco. “I am looking forward to working with their team and creating a customer experience that will be unmatched in the industry. Joining forces will allow us to build upon the foundation of our business—the customer-first focus. Chocolate Inn’s business model will allow us to bring Lanco’s customers industry-leading capabilities, including product innovation, increased in-stock levels and exemplary service.”