SOURCE: BBX Capital Corporation

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July 21, 2014 09:00 ET

BBX Capital Acquires Helen Grace Chocolates

A Commitment to Tradition Since 1944

FORT LAUDERDALE, FL--(Marketwired - July 21, 2014) - BBX Sweet Holdings, a wholly-owned subsidiary of BBX Capital Corporation ("BBX Capital") (NYSE: BBX), announced today that it has acquired the assets of Helen Grace Chocolates.

Headquartered in Lynwood, California, Helen Grace Chocolates has been creating premium chocolate confections, chocolate bars, chocolate candies, and truffles for 70 years. Helen Grace has built a national brand by combining a proprietary blend of premium chocolates, the freshest ingredients, and time-honored recipes. 

"The story of Helen Grace Chocolates is a story of the American Dream. Starting with nothing, Bill and Helen Grace opened their first chocolate shop in San Pedro, California in 1944. Eventually they opened additional stores, began selling candy to schools for fund-raising campaigns, and grew to be a Southern Californian candy legacy," commented Jarett Levan, President of BBX Capital. 

"Helen Grace Chocolates established its heritage through outstanding quality, value, and commitment to tradition. After my 24 years with Helen Grace I am very pleased to join the family of BBX Sweet Holdings companies and to carry on the Helen Grace devotion to its product and customers," said Greg Power, General Manager of Helen Grace Chocolates.

"For many years Helen Grace Chocolates has helped schools and other organizations reach their fundraising goals through sales of their premium boxed chocolates, chocolate Easter eggs, and chocolate bars sold exclusively through the national fundraising programs of Innisbrook Wraps. As part of the transaction, Helen Grace will continue to be the exclusive provider of chocolate and chocolate gift items to Innisbrook, and Helen Grace Chocolates will continue to be enjoyed by customers, including parents and students in their fund-raising campaigns, across North America," furthered Jarett Levan.

"The addition of Helen Grace Chocolates to the suite of premier brands at BBX Sweet Holdings creates the potential for a new pipeline of synergies, product choices, and offerings to Innisbrook," commented David Worth, President of Innisbrook. "We are excited about the new brands and products Helen Grace Chocolates and BBX Sweet Holdings can offer to our fundraising customers."

Helen Grace Chocolates was represented by the investment bank 41 North Advisors LLC as their exclusive advisor in the transaction.

About BBX Capital Corporation: 
BBX Capital, a New York Stock Exchange listed company (NYSE: BBX), is involved in the acquisition, ownership and management of, and joint ventures and investments in real estate and real estate development projects as well as investments and management of middle market operating businesses. In addition, BBX Capital and its holding company, BFC Financial Corporation, have a 46% and 54% indirect ownership interest in Bluegreen Corporation. Bluegreen manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 180,000 owners, over 60 owned or managed resorts, and access to more than 4,000 resorts worldwide.

As of March 31, 2014, BBX Capital had total consolidated assets of $416.9 million, shareholders' equity attributable to BBX Capital of approximately $304.6 million, and total consolidated equity of approximately $305.7 million. Its book value per share was $19.03. 

For further information, please visit our family of companies:
BBX Capital: www.BBXCapital.com
Bluegreen Corp.: www.BluegreenVacations.com
Renin Corp.: www.ReninCorp.com
BBX Sweet Holdings: Hoffman's Chocolates: www.Hoffmans.com, Williams & Bennett:
 www.WilliamsandBennett.com, and Jer's Chocolates: www.Jers.com
RoboVault: www.RoboVault.com
BFC Financial Corporation: www.BFCFinancial.com

About BFC Financial Corporation:
BFC (OTCQB: BFCF) is a holding company whose principal holdings include a 52% ownership interest in BBX Capital Corporation (NYSE: BBX) and a 54% indirect ownership interest in Bluegreen Corporation. As of March 31, 2014, BFC had total consolidated assets of approximately $1.4 billion, shareholders' equity attributable to BFC of approximately $243.1 million, and total consolidated equity of approximately $430.2 million. For more information, visit www.BFCFinancial.com.

About 41 North Advisors LLC:
41 North Advisors is a licensed boutique investment bank specializing in Mergers & Acquisitions and Corporate Finance in the middle market. With backgrounds at Citigroup and Deutsche Bank they have strong expertise in consumer, food and manufacturing. 41 North has represented a number of family owned businesses in the market that are looking for Wall Street experience and tenure that is tailored to the smaller middle market. Broker dealer is BCC Advisory Services LLC. Member of FINRA & SIPC. For Information, visit www.41-north.com

This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements. The forward looking statements in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and involve substantial risks and uncertainties. We can give no assurance that such expectations will prove to have been correct. Actual results could differ materially as a result of a variety of risks and uncertainties, many of which are outside of the control of management. These risks and uncertainties include the impact of economic, competitive and other factors affecting BBX Capital and its operations, markets, products and services, as well as others including but not limited to: that the Company may not realize the anticipated benefits or generate profits from its investments and/or acquisition transactions; the risk that the integration of Helen Grace Chocolates may not be completed on a timely basis, or as anticipated; and that the Helen Grace Chocolates acquisition may not be advantageous for BBX Capital. In addition to the risks and factors identified above, reference is also made to the risks and uncertainties detailed in reports filed by BBX Capital with the SEC, including the "Risk Factors" sections thereof, which may be viewed on the SEC's website at www.sec.gov. The Company cautions that the foregoing factors are not exclusive.

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