SOURCE: BBX Capital Corporation

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July 01, 2014 09:14 ET

BBX Capital Acquires Jer's Chocolates

A Niche in Luxury Chocolates & Home of the "Double Grin™" Guarantee

FORT LAUDERDALE, FL--(Marketwired - July 01, 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 Jer's Chocolates.

Headquartered in Solana Beach near San Diego, California, Jer's Chocolates, with its Award Winning peanut butter chocolate products, has created a niche in the gourmet luxury chocolate world. With its core flavors of chocolate and natural peanut butter, Jer's decadent flavors include combinations with rice crisp, pretzel, toffee, and caramel.

Jer's specialties include its gourmet peanut butter chocolate confections, which come in its patented "Double Grin" shaped assorted chocolate boxes, Peanut Butter Bars and Squares. In addition to Jer's peanut butter offerings, it has recently expanded its product line to include some All Natural non peanut butter items, as well. Jer's corporate gift chocolate boxes and peanut butter chocolate gift boxes have been featured on the Home Shopping Network, QVC, The Food Network, and the Rachael Ray Show. Jer's Chocolates is distributed internationally, and within the US, has customer distribution in numerous sales channels. Jer's brand story and award winning chocolates have created a fanatical customer base. Products are both ideal for everyday treats and for special seasonal occasions. 

"BBX Sweet Holdings acquired Hoffman's Chocolates in December 2013 and Williams & Bennett in January 2014, and we are extremely pleased to now announce our most recent acquisition of Jer's Chocolates. We believe Jer's Chocolates is an ideal fit to our platform and we welcome CEO Jerry Swain and the Jer's brand to our family of BBX Capital companies," commented Mr. Jarett Levan, President of BBX Capital.

"Jer's started in my parent's kitchen where we created all-natural peanut butter, hand-rolled ball-shaped treats as gifts for my friends and family and for an annual fundraiser for the local food bank. We've been fortunate to receive honors like "Best Chocolate Bar" at the annual New York Chocolate Show and "Best of Show" at the Retail Confectioners International Annual Convention, and we have always strived to produce high quality, best tasting chocolate creations," commented Mr. Jerry 'Jer' Swain, Founder and CEO of Jer's Chocolates. "I am delighted to be part of the BBX Sweet Holdings family and excited about the opportunities and resources that BBX Capital brings to Jer's Chocolates."

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% respective interest in Bluegreen. 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, and 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 includes Hoffman's Chocolates: www.Hoffmans.com, Williams & Bennett: www.WilliamsandBennett.com, and Jer's Chocolates: www.Jers.com
RoboVault: www.RoboVault.com
BFC Financial Corp.: 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% 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.

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 Jer's Chocolates may not be completed on a timely basis, or as anticipated; that Jer's products may not be well accepted or receive recognition or awards in the future; or that the Jer's Chocolates acquisition may not be advantageous to 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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