Krystal Financial has sold its 30% interest in Foley’s Candies Ltd. to CEO and majority owner Brian Hurl.
Krystal Financial Corp. announces the sale of its 30% interest in Foley’s Candies Ltd. to majority owner and CEO Brian Hurl. Since partnering to purchase the Company in 2006, Krystal has actively supported Brian’s efforts to grow Foley’s. The addition of investment partner John Frostad in 2007 brought increased depth and experience, allowing Foley’s to consider a broader set of strategic options to drive revenue growth. This transaction allows CEO Brian Hurl the opportunity to meet his objective of owning 100% of Foley’s, and provides Krystal with the opportunity to realize on a successful investment and re-deploy the capital into new opportunities.
“The sale of our interest in Foley’s comes with mixed emotions”, stated Krystal CEO Terry Holland. “On the one hand it’s always nice to realize on a successful investment, especially when we can help our operating partner meet his objectives. On the other hand, we’ll miss our involvement in Foley’s and the chocolate industry”.