Private-equity firm Bristol Capital Advisors LLC has won an auction to purchase boutique candy retailer Sugarfina Inc. out of bankruptcy, WSJ Pro Bankruptcy reported. Los Angeles-based Bristol’s investment vehicle, Sugarfina Acquisition Corp., was the successful bidder at the auction conducted by Sugarfina on Tuesday, according to a bankruptcy court filing. The winning bid was for about $15.1 million, Bristol’s co-founder Diana Derycz-Kessler said yesterday. The sale requires approval by Judge Mary Walrath. A hearing is slated for today in U.S. Bankruptcy Court in Wilmington, Del. Bristol was the stalking-horse bidder for Sugarfina’s assets, with a $14 million cash offer made earlier this month. Bristol’s bid replaced an earlier offer for the candy retailer’s assets from private-equity firm TerraMar Capital LLC’s holding company Candy Cube Holdings LLC, which was named as the backup bidder in the auction.
