Spokandy owner Todd Davis says he has bought Micheles Chocolate Truffles Inc., a Clackamas, Ore. candy maker.
Davis declines to disclose the terms of the sale, but says he will operate the Oregon factory and its connected retail store, which are located in a 4,500-square-foot leased space there, much as they are run now.
Davis says Spokandy has wholesale accounts in Oregon, and the Spokane-based company will take over operation of the Micheles Chocolate Truffles wholesale division, but will continue to produce the Oregon companys chocolates at the Clackamas factory. Davis says about 75 percent of the Oregon companys sales are wholesale.
He says the acquisition also will allow him to increase Spokandys wholesale reach.
The benefit that were gaining is with her customer base, we can add Spokandy to her customers, Davis says. It makes sense for us to combine the corporate office that way.
In addition to increasing its wholesale business, Spokandy will expand the offerings at its four Washington and Idaho locations to include the specialties of Micheles Chocolate Truffles, including cinnamon caramels and the Oregon companys signature line of more than 40 kinds of handmade truffles, Davis says.
Micheles Chocolate Truffles has nine employees, Davis says. Spokandy has a total of 25 employees, at its 8,000-square-foot factory in Spokane, located at 1412 W. Third, and its three retail stores in Spokane, Spokane Valley, and Coeur dAlene, he says. Davis says he doesnt plan to add staff members at this time, and hes not sure how the acquisition will affect the companys revenues for 2008.
Davis bought Spokandy from Don and Kris Howell in 1992. Before that, the business had several owners since it was founded by Terrence J. Riley, as Rileys Candy Co., in 1913.
Contact Jeanne Gustafson at (509) 344-1264 or via e-mail at firstname.lastname@example.org.
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