Economy

Chocolat Frey acquires majority of NY's SweetWorks

BUFFALO, New York (AP) — A Swiss chocolate maker has acquired a majority of New York-based candy company SweetWorks, Inc.

SweetWorks, headquartered in Buffalo, says Wednesday that it will continue to operate as an independent group and its production facilities and staff in Buffalo and Toronto will remain in place. The company's Buffalo plant employs about 200. Its Canadian Oak Leaf Confections facility has about 250 workers.

Current owner and Chief Executive Officer Philip Terranova will continue as president of SweetWorks. A joint news release says Chocolat Frey and SweetWorks have comparable business models with the production of high quality chocolate and chewing gum.

The purchase price wasn't disclosed.

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