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iGoldRush Blog   June 2009

Candy.com Sells for $3 Million

June 03, 2009 in News

Today, Rick Schwartz, the self-proclaimed Domain King, announced the sale of Candy.com to G&J Holdings for a sweet $3 million. G&J Holdings plans to use candy.com to sell candy for their Massachusetts-based, family-owned candy company, Melville Candy Company. The $3 million purchase price makes the candy.com sale the 2nd largest in 2009 — in the top 15 of all time — with the first being the sale of toys.com to Toys ‘r Us for $5.1 million. The sale has made waves through the domain industry, not just for the high dollar sale price, but because owner Rick Schwartz will also receive 2% royalties of the candy company’s profits for the next 15 years, plus a provision in the event that the company is sold down the road!

Melville Candy Company plans to develop the domain into online candy store that will offer more than 5,000 sweet confections, including bulk, gourmet, and gift confectionary products. The company plans to distinguish itself online with superior customer service, competitivly priced products, expedited shipping, and and a unique and social shopping experience. The sweet treats offered will include candies from around the world, candies to bring back the nostalgia of childhood, healthier candies, and more. The new e-tailer will also cater to holiday celebrations, weddings, birthdays, corporate events, baby showers, and more.

The sale, which was initiated in February, was complete on June 3rd 2009 and new owners Joe Melville and Greg Balestrieri, CEO and Vice President of the family-owned, 30-year old, Melville Candy Company, plan to launch the new site on July 1st.

The domain name was purchased from a Florida-based domain holding company owned by Rick Schwartz. Moniker.com handled the escrow for the deal and Trinity Law Group, LLC, which specializes in startups and emerging business, provided the necessary documentation to complete such a deal.

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