Grand Junction-based Enstrom Candies Inc. swooped in Friday to make a winning bid for Stephany’s Chocolates, snapping up the assets of bankrupt chocolatier for $1.5 million.
First National Bank of Colorado – which controlled Stephany’s key assets, such as its trade name, candymaking equipment and inventory – held the auction in Boulder.
The bank on Thursday said it had negotiated a deal with Russell Stover, based in Kansas City, Mo. But that was only if no higher bidder emerged.
Enstrom, well-known for its hand-crafted almond toffee, has not decided which of Stephany’s products it will continue. Stephany’s popular products include the Denver Mint and Colorado Almond Toffee.
Enstrom did not acquire the retail leases of Stephany’s five shuttered metro locations. Enstrom operates four of its own retail locations in Grand Junction, Denver, Lakewood and Fruita.
“They have a couple things that interest us that might fit into our future growth plans,” Doug Simons, president of Enstrom, said of Stephany’s.
