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M&F Worldwide

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M & F Worldwide
Company typeSubsidiary
Industryholding company
FoundedJune 1, 1988
Headquarters,
USA
Key people
Barry F. Schwartz, CEO
Ronald O. Perelman
Productschecks, licorice products
Servicesdirect marketing, contact center
ParentMacAndrews & Forbes
SubsidiariesHarland Clarke Holdings Corp.[1]
Mafco

M&F Worldwide Corp. is a privately held holding company based in New York City. It was incorporated in Delaware on June 1, 1988.[2] Formerly Power Control Technologies, Inc., the company was previously a New York Stock Exchange listed public holding company (MFW) that became part of the Ronald O. Perelman group of companies. It was acquired by private company MacAndrews & Forbes in 2011.[3]

History

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Mafco Holdings acquired Abex, Inc., an aircraft control system & hydraulic pump manufacturer, and then merged it into a Mafco subsidiary in 1995 while the aerospace subsidiary, Power Control Technologies Inc., became publicly traded. Power Control then acquired Flavors Holdings Inc. in 1996 for $180 million, which included the licorice business subsidiary Mafco Worldwide Corp., which manufactures more than 70% of the worldwide licorice flavors.

An Abex, Inc. subsidiary, Pneumo Abex Inc., merged through multiple transactions with Mafco Worldwide. Power Control Technologies was renamed M & F Worldwide in 1997. In 2000, Perelman proposed that Mafco Holdings' major share in Panavision Inc. be sold to M & F Worldwide at Mafco Holdings' purchase price but was block by an M & F shareholder as the stock was trading at only 23% of that value.[4]

In July 2013, the firm's main subsidiary, Harland Clarke, agreed to sell Harland Financial Solutions to Davis & Henderson for $1.2 billion.[5]

Subsidiaries

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Logo of Harland Clarke
Name (state of Incorporation)
  • Harland Clarke Holdings Corp. (Delaware) – formerly CA Acquisition Holdings Inc.
  • Flavors Holdings Inc. (Delaware)
    • Mafco Worldwide Corp. (Delaware)
    • Mafco Shanghai Corp. (Delaware)
    • Pneumo Abex LLC (Delaware)
    • Pneumo Abex Lessee Corp. (Delaware)
    • Merisant Corp.
  • PCT International Holdings Inc. (Delaware)
  • EVD Holdings Inc. (Delaware)
  • Concord Pacific Corp. (Maine)
  • Centralia Holdings Corp. (Georgia)[7]

Foreign

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Name of Subsidiary (Jurisdiction)

  • EVD Holdings S.A. (France)
  • Extraits Vegetaux Et Derives, S.A. (France)
  • Wei Feng Enterprises Ltd. (British Virgin Islands)
  • Xianyang Concord Natural Products Co. Ltd. (People's Republic of China)
  • Zhangjiagang Free Trade Zone MAFCO Liantai Biotech Co., Ltd. (People's Republic of China)
  • Mafco Weihai Green Industry of Science and Technology Co. Ltd. (40% owned) (People's Republic of China)
  • Scantron Canada, Ltd. (Canada)
  • Harland Israel Ltd. (Israel)
  • Harland Financial Solutions Worldwide Limited (Ireland) [7]

References

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  1. ^ a b "New Brand in Financial Services Brings Industry's Most Expansive Lineup of Checks and Payment Products to its Clients". Harland Clarke Press Releases. Retrieved 2008-05-21.
  2. ^ M & F Worldwide CorpP (1997-12-31). "10-K ANNUAL REPORT" (text). SEC. p. 1. Retrieved 2008-05-21.
  3. ^ "M & F Worldwide Announces Completion of Acquisition by MacAndrews & Forbes Holdings Inc". Retrieved 16 April 2015.
  4. ^ "M & F Worldwide Corp. -- Company History". Funding Universe Company Histories. Retrieved 2008-05-28.
  5. ^ Euan Rocha (23 July 2013). "Davis + Henderson to buy Harland Financial for $1.2 billion". Reuters.
  6. ^ M & F Worldwide Corp. (2007-12-31). "Form 10-K Annual Repor". secinfo.com. Retrieved 2008-05-20.
  7. ^ a b "Form 10-K Annual Report EX-21.1 Subsidiaries". United States Securities and Exchange Commission. 2007-12-31. p. 1. Retrieved 2008-05-20.