Campus Candy LLC announces completion of a second round private placement to continue its expansion across college campuses
NEW YORK, June 14, 2011 /PRNewswire/ ‐‐ Campus Candy, the tech‐savvy socially connected Super Candy Cafe opened its initial location in the heart of the Indiana University campus on Kirkwood Avenue in March 2010. Subsequently, Campus Candy stores have been opened at the University of Wisconsin, University of Arizona and Penn State University. The Company will be opening its fifth location in October at the University of Texas in Austin, and New York City (NYU) in 2012. The company’s business model is to expand across U.S. College campuses that have a minimum student population of 25,000 as well as selective international markets. Campus Candy offers over 500 candies, baked goods, international snack foods and a complete frozen yogurt bar, in which customers have the entire store’s inventory at their disposal to use as toppings. Each store has an elliptical‐shaped interior with a modern, minimalistic design. The stores also features free Wi‐Fi and flat screen TVs displaying CandyVision, the interactive Campus Candy television network. “We created a ‘Wow Factor’ on campus that is exciting to both students and the local community,” says co‐Founder Mark Tarnofsky. “Campus towns generally have pizza and sub shops on every corner – but there is only one Campus Candy,” says co‐founder Jason Tynan.
Tarnofsky and Tynan continued, “We went to CoMetrics Partners to assist us in developing a professional business plan and valuation model to attract investors. CoMetrics introduced us to the private equity and negotiated and secured the funding. We achieved our targets and the second round of funding was triggered and will be drawn upon to continue our rapid expansion. The CoMetrics team additionally implemented our financial reporting, IT systems and integrated POS.”
“Campus Candy is an exciting niche retail concept that has significant potential,” says Gary Herwitz, Managing Partner and founder of CoMetrics Partners LLC. “We enjoyed working closely with the energetic management team and were pleased with the reaction from the investment community.”
About CoMetrics Partners LLC
CoMetrics Partners LLC was founded by Managing Partner Gary Herwitz. The firm specializes in working with middle market companies providing the leadership and expertise to synergize operations, technology and finance to maximize operating efficiencies and drive profitability.
The firm’s services include strategic advisory, supply chain management, lender advisory services, and financial resources.