BHM Group Acquires Iconic Almond Roca Manufacturer

In a significant move within the confectionery sector, BHM Group has finalized the complete acquisition of Brown & Haley, the venerable American manufacturer behind the globally recognized Almond Roca toffee. The transaction, which closed on April 17, 2026, marks a pivotal shift for the century-old company, transitioning it from a domestic producer to a global snack brand powerhouse. The acquisition is backed by strategic investment from Proterra Investment Partners, a private equity firm with over two decades of experience specializing in the food and agriculture industries, formerly part of Cargill's global capital markets division.

Under the new ownership, Sam Meng, who previously served as the exclusive importer and brand licensee for Almond Roca in Greater China for over a decade, will assume the role of Global CEO for Brown & Haley. This leadership transition aims to leverage Meng's extensive market knowledge and brand-building expertise. Kathi Rennaker, a long-standing executive at Brown & Haley, will continue with the company as Chief Operating Officer for the U.S. operations, ensuring a smooth integration and strategic execution.

The acquisition strategy centers on transforming Brown & Haley into a diversified global snack conglomerate. Key initiatives include reinforcing the flagship Almond Roca toffee's market dominance, expanding into adjacent categories such as puffed snacks and biscuits, and leveraging existing U.S. retail channels to introduce high-value products from Asian supply chains. This includes the recent launch of the wafer brand Krispy Shark, which has already secured placement in major U.S. retailers like Walmart and Walgreens. Furthermore, the company plans to develop its B2B segment, building on its existing role as a supplier of cocoa-based beverage ingredients to prominent U.S. coffee chains.

Almond Roca, established in 1923 as Brown & Haley's flagship brand, is celebrated for its distinctive toffee and almond confection, famously packaged in its iconic pink tin. The brand's commitment to its unique toffee-making process has fostered a loyal global consumer base, with products distributed in 63 countries. The brand's significance was further underscored in 2023, its centenary year, when the city of Tacoma, Washington, declared October 10th as 'Almond Roca Day'. China represents a particularly strong market, ranking as the second-largest globally for Almond Roca, following the United States.

The confectionery market, while traditional, demonstrates consistent demand, particularly for gifting and celebratory occasions. In China, the snack market reached approximately 1.27 trillion yuan in 2023, with the confectionery segment accounting for 7.1%, or 90.17 billion yuan. This segment is projected to grow at a compound annual growth rate of 2% through 2028. Similarly, global candy sales have shown robust year-over-year growth, indicating a healthy industry trajectory.

To bolster its presence in the rapidly expanding Asia-Pacific region, Brown & Haley has established a dedicated Asia-Pacific headquarters. Jeff Wang, formerly of PepsiCo Foods China with two decades of marketing experience, has been appointed Chief Operating Officer for the region. This strategic expansion underscores the company's ambition to capitalize on the growing demand for premium confectionery and snack products across Asia.