SOURCE: BBX Capital Corporation

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January 13, 2014 08:30 ET

BBX Capital Has Acquired Williams & Bennett

Extending Reach Into Premium Chocolate Segment

FORT LAUDERDALE, FL--(Marketwired - January 13, 2014) - BBX Capital Corporation ("BBX Capital") (NYSE: BBX) today announced that, through a subsidiary, it has acquired Williams & Bennett, a leading Florida based manufacturer of quality chocolate products.

Headquartered in Boynton Beach, Florida, Williams & Bennett is a manufacturer of quality chocolate products serving boutique retailers, big box chains, department stores, national resort properties, corporate customers, and private label brands. Since 1992, Williams & Bennett has built a reputation of branded chocolate drenched products including Belgian chocolate drenched Oreo® Cookies, Bavarian pretzels, Nutter Butter® Cookies, Marshmallows, Graham Crackers and other confectionary products. Williams & Bennett offers these chocolate creations in distinctive collectable packaging for all occasions.

 "For over twenty years, Williams & Bennett has built a premier brand of chocolate products and confections through well-defined distribution channels," commented Mr. Jarett Levan, President of BBX Capital.

"We are thrilled to have found a partner with the resources and experience to grow the Williams & Bennett brand," commented Becky and Bill Gardner, Co-Founders of Williams & Bennett.

In December 2013, BBX Capital announced that it had acquired Hoffman's Chocolate, and its subsidiaries Boca Bons and Good Fortunes, which provides premier chocolate products with a product line of over 70 varieties of confections.

Recently, BBX Capital formed BBX Sweet Holdings, a 100% owned subsidiary to own and hold both these acquisitions.

"The Williams & Bennett and Hoffman's Chocolate acquisitions provide BBX Sweet Holdings with a platform and strategic opportunities to capitalize on the high growth premium chocolate market," said Mr. Levan. "We are very excited about both these acquisitions and the ability to extend our reach into the confectionary market."

These acquisitions, in addition to the Bluegreen acquisition completed in April 2013 and Renin Holdings consummated in November 2013, are part of BBX Capital's strategy to acquire and invest in high quality operating businesses.

About BBX Capital Corporation: BBX Capital (NYSE: BBX) is involved in the ownership, financing and management of, and investment in, real estate and real estate related assets and operating businesses. In addition to its 46% ownership interest of Bluegreen Corporation via its investment in Woodbridge Holdings, LLC, and its 81% ownership interest of Canadian headquartered Renin Corp., the business of BBX Capital includes real estate ownership, direct acquisition and joint venture equity in real estate, specialty finance, and investments in middle market operating businesses. For more information, visit www.BBXCapital.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 and include words or phrases such as "believes," "will," "expects," "anticipates," "intends," "estimates," "our view," "we see," "would" and words and phrases of similar import. 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: the risk that the integration of Williams & Bennett may not be completed on a timely basis, or as anticipated; that the transaction may not be advantageous to BBX Capital; and that BBX Capital may not realize the anticipated benefits. 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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