01/17/2024 – 18:33
Anyone who was a child in the 1970s and 1980s will certainly remember Pan's coin cigarettes and chocolate pencils. The candy was quite successful but, decades later, the courts declared the company bankrupt in March 2023 and now the brand was put up for sale.
The auction starts on January 29th and the minimum bid to win the lot with the brands will be R$ 27,788,754.00, according to the value indicated by an expert opinion carried out at the request of the São Paulo Court. The first phase of the competition lasts three days, ending on February 1st. The sale value is intended to pay the company's creditors.
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According to the report approved by the Court, the brand has an estimated annual revenue of R$51 million. Furthermore, the expert assessment considers that, as sector information and Pan's history point to a mature and consolidated brand, the royalty rate to be charged in a possible licensing is 5%, which represents more than R$2 .1 million.
For the judicial administrator of ARJ Consultoria e Assessoria Empresarial, Fábio Garcia, responsible for the process, this is an important moment for the brand. “Pan has a century-old history and is present in the emotional memory of Brazilians. Whoever buys it will have the opportunity to relive this incredible story, with one fundamental detail: free from any debt. It’s like starting a new life, without having to look back, with a well-known brand with enormous growth potential in the chocolate market,” he declares.
The official auctioneer, Erick Teles, is confident that this auction will be as successful as the one for the former Pan factory property. “The brand has enormous market potential. Therefore, we believe that the auction will attract many interested parties and that the brand will be awarded the best bid.”
Interested parties can participate in the auction through the website www.positiveleiloes.com.br.
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