Brown & Haley, candy-maker behind Almond Roca, announces merger

Tacoma-based Brown & Haley, the confectionery company that has made Almond Roca since 1923, announced Tuesday in a news release that it has merged with its "longtime import and distribution partner in China," BHM Group LTD. That company's leader, Sam Meng, has been named Brown & Haley's new CEO.

What does this mean for local chocolate lovers?

Kathi Rennaker - whose promotion to COO was also announced Tuesday - told The Seattle Times that operations in Tacoma will remain "business as usual" despite the changes in leadership and majority ownership.

Rennaker said the company's current production and daily operations will remain the same, with every piece of Roca still being manufactured in our historic Tacoma factory."

According to the release, Brown & Haley's five-member board "viewed the BHM transaction as the strongest path to sustain its brands, support future growth and deliver fair value for shareholders." The transaction closed Friday after it was approved by shareholders "overwhelmingly," per the release.

"We didn't really sell," Rennaker said. "The shares have moved to a different entity that was hand-selected. Our corporation is not changing … we just now have additional resources."

Prior to the merger with BHM, former Brown & Haley CEO Pierson Clair was the majority shareholder; the company overall remains privately held.

Asked about the breakdown of shares and how they've changed with this transaction, Rennaker said "our shareholder group has always chosen to keep the total value and percentages owned private so I'm unable to answer this on their behalf.

Though there have been "many times" over the years when groups have offered to purchase Brown & Haley, Rennaker said the Haley family has always "said no."

"They didn't want to dismantle Brown & Haley," she said. "It's a family legacy."

Anne Haley, chairman of the board and granddaughter of founder J.C. Haley, said in the news release that "joining with BHM will expand our international reach, create opportunities for new and exciting products, and invest in our hometown team. We considered many options for our future, and this was the best choice for our company and our legacy."

The family legacy - which is in its third generation - is a big selling point in China, where nearly half of the company's product is sent.

"So much of the selling and marketing power in Asia is based on the heritage and story. It was really critical for that portion of our business that it remains the same," Rennaker said. "Sam understands that and chose to step up to the plate."

Meng has worked with the company for 15 years, both through BHM and as a contract employee at Brown & Haley with a mission of growing the business in a sales capacity in Asia.

"With this change, besides my role change and Sam stepping in as CEO, we will have 22 additional people resources around the world to help us with international sales," Rennaker said. "They started first thing Monday morning, their time, and they are already out there selling Roca to more places. That's very exciting for us."

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