SOURCE: BBX Capital Corporation

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July 31, 2014 16:36 ET

BBX Sweet Holdings Announces Plans to Open Newest Hoffman's Chocolates Retail Store

Fort Lauderdale Is About to Get a Little Sweeter

FORT LAUDERDALE, FL--(Marketwired - July 31, 2014) - BBX Sweet Holdings, a wholly-owned subsidiary of BBX Capital Corporation ("BBX Capital") (NYSE: BBX), announced today its plans to open its newest Hoffman's Chocolate retail store later this year. The new Hoffman's Chocolates retail store will be located on Las Olas Boulevard in downtown Fort Lauderdale, Florida.

"We are delighted with the newest, upcoming Hoffman's Chocolates retail store and are exploring opportunities to expand and grow the Hoffman's Chocolates retail footprint. Certainly, Fort Lauderdale is about to get a little sweeter," commented Jarett Levan, President of BBX Capital. 

Headquartered in Lake Worth, Florida, Hoffman's Chocolates is a manufacturer of gourmet chocolates, with several retail locations throughout South Florida. Each of Hoffman's confections is hand made. Its product line includes over 70 varieties of confections, which are available via its retail stores, online distribution channels, direct shipping throughout the U.S., and at third party retail locations nationwide. In addition to Kosher O-U chocolates, Boca Bons and Good Fortune cookies, notable Hoffman's confections include the "Snoodle," Pecan Carmel "Jitterbugs," the Hoffman's Holiday Wonderland, and products such as gift baskets and chocolate covered pretzels. 

"In December 2013, BBX Sweet Holdings acquired Hoffman's Chocolates, and in 2014, we acquired Williams & Bennett, Jer's Chocolates and Helen Grace Chocolates. Going forward, our overall strategy and goals at BBX Sweet holdings are essentially in two streams. First, BBX Sweet Holdings continues to pursue other acquisitions in the candy and confections industry; however, we have also widened our horizon to include new product and branding elements, as well as additional capabilities and synergies to compliment our legacy suite of companies and products. Secondly, we are also working towards our goal of collateralizing our legacy confection businesses into a more efficient, collaborative platform by exploring distribution opportunities, production and manufacturing synergies, and potential cost savings through collective purchasing of raw materials including cocoa, nuts, corn syrup, and packaging materials," Levan concluded.

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, Jer's Chocolates: www.Jers.com and Helen Grace Chocolates: www.HelenGrace.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.

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, acquisition transactions and/or current or future expansion plans; the risk that the new Hoffman's retail location may not be completed on a timely basis, or as anticipated, and 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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