Macy’s Inc. is selling off the sweeter side of its business.
Frango chocolates, most famous for its chocolate-covered mints, is being sold to Garrett Brands LLC, owner of Garrett Popcorn Shops.
Macy’s will continue to sell Frango products online and at more than 350 of its stores, including the Frango Café inside Macy’s State Street, the former Marshall Field’s flagship.
Macy’s has been working hard to monetize assets to elevate profits and shareholder value, which in most cases involves selling off or finding ways to redevelop unproductive department store real estate.
The price of the Frango transaction was not disclosed.
“We are happy to have found such a natural partner in Garrett Brands and are confident they will be great stewards of the Frango brand,” said Tim Baxter, chief merchandising officer at Macy’s Inc. “We will continue to offer Macy’s customers the Frango products they love online and at Macy’s stores in Chicago, Seattle and across the country. And, given Garrett Brands’ history of thoughtfully growing brands, we are confident that this partnership will introduce new customers to premium Frango chocolates.”
“Frango is a perfect fit for our company’s portfolio, aligning well with our strategy to preserve and grow iconic brands that have historic franchise value with a unique and storied past,” said Lance Chody, owner and chief executive officer of Garrett Brands. “This is an exciting opportunity to expand the reach and offerings of the delicious Frango confections consumers know and love to more people in more places, just as we have done with our other brands.”
Frango is a throwback to the days when department stores were emporiums selling an eclectic array of merchandise, from fashion to food, hard goods and soft goods.
Frango dates back to 1918 when the brand was launched by the former Frederick & Nelson department store in Seattle. is a premium chocolate brand with an iconic history rooted in Chicago and Seattle, dating back to 1918. Frango expanded to the Chicago market when Marshall Field’s acquired Frederick & Nelson. It spread to many more markets around the country when Macy’s inheritated Marshall Field’s through its acquisition of May Department Stores in 2005.
Garrett Popcorn Shops is privately held by Garrett Brands LLC operated by Lance Chody and his family.