Walter Wright of Trinity Law structured, negotiated and documented for his client G&J Holdings, an affiliate of Melville Candy Corporation, this complex and innovative transaction with Virtual-Dates, an affiliate of noted domainer, Rick Schwartz. More information is below.
BOSTON, MA — June 3, 2009 — G&J Holdings, LLC today announced the purchase and acquisition of the web domain Candy.com and the development of a new internet based confections retailer d/b/a Candy.com. A growing distribution channel that is here to stay, G&J Holdings, LLC has invested in Candy.com for the purchase price of $3,000,000. The new internet candy retailer will service the growing demand for consumers to find their favorite bulk, gourmet, and gift confectionary products with great service, a unique and social shopping experience, competitively priced products, and expedited shipping.
Candy is an American treat that everyone enjoys, whether at a birthday party, bar/bat mitzvah, corporate event, baby shower, wedding, or a holiday gift. Candy.com will provide unlimited access to confections from around the world with candy you remember as a child and candy that is even healthy for you---all part of a new virtual candy store. With over 5,000 confectionary products, consumers will be sure find a fun treat to share with their family, co-workers and friends. The Candy.com team will add and update new products continuously to ensure customers have the latest and best products available from the confectionary world.
The vision of Candy.com is to provide the best online customer service candy shopping experience in the world. Confectionary products are what Candy.com will sell but the shopping experience will be the driving force behind its success providing: live customer support online; toll free dedicated and trained customer support personnel; and quick E-Mail responses. Social shopping experiences will also be found at Candy.com including product reviews, blogs, and discussions boards creating an unparalleled experience while shopping online for tasty candy products.
Perhaps the most important features of Candy.com will be its expedited shipping and competitively price products. With partner distributors in California and Virginia, along with Candy.com’s main location in Massachusetts, US customers will enjoy shipping anywhere in the United States in most cases two days or less. Candy.com has also partnered with a Canadian distributor to supply an international reach to customers. Prices will be competitive with distribution channels both online and off. Customers will feel secure in knowing that Candy.com has negotiated the best rates for their purchases with manufactures and suppliers, allowing easy, quick and enjoyable one-stop shopping.
Candy.com was founded by two highly experienced confectionary executives Joe Melville, CEO of Melville Candy Corporation & Greg Balestrieri, Vice President of Melville Candy Corporation—the 30 year old family-owned candy manufacturing company owned by Gary Melville. Greg Balestrieri will assume the role of President of G&J Holdings. Plans to launch the site are slated for July 1st, 2009.
Candy.com is the second largest domain purchase of 2009 selling for $3,000,000 second only to Toys.com ($5,100,000) to Toys R Us. One of the top 15 reported domain sales ever. With over 800,000 searches for the word candy online each month Candy.com will fill orders and provide information and resources related to all things candy.
The domain was purchased from a Florida based domain holding company run by legendary domineer Rick Schwartz (WorkSmarter.com) aka “Domain King” who last year sold the iReport.com domain to CNN for $750,000 and Property.com to Foreclosure.com for an undisclosed amount believed to be one of the most lucrative domain deals ever. Moniker.com was responsible for the escrow of the Multi-million dollar deal and was the final lynch pin in putting this acquisition together. Trinity Law Group, LLC which specializes in startups and emerging business provided the necessary documentation to complete such a deal.
About Trinity Law Group
Trinity Law Group (TLG) is a greater Boston corporate law firm which practices the broad range of business law throughout Massachusetts, the United States and the world with well-recognized attorneys of stellar academic and professional accomplishment. Trinity Law Group is founded on the three pillars of strategy, technology and relationships that are transforming the practice of business law. Trinity Law Group attorneys assist with organization, financing, contracts, human resources, technology licensing, intellectual property protection, mergers and acquisitions, real estate and strategic development.
Trinity Law Group was founded by Walt Wright and Dan Clark, to build a practice specializing in business and corporate law in a setting that maximizes results to clients. Critically acclaimed as “Super Lawyers” and described by clients as the “most experienced corporate lawyers practicing today,” the Trinity Law Group is dedicated to provide competence, commitment and communication to all of their clients.
Walt Wright’s law and strategic counseling practice intensely focuses on the organizational, venture financing, operational and transactional requirements of entrepreneurs, emerging technology and information companies as well as representing venture capital funds and angel groups in investment transactions and executives. Walt Wright has been named by Massachusetts Super Lawyers in Boston magazine as one of the top 100 attorneys in Massachusetts. Of the Top 100, he is one of only 3 lawyers selected in the Business/Corporate category. He is named in the Corporate Counsel edition of Super Lawyers as one of the “Top Attorneys in Corporate and Securities Law” across the United States. Martindale-Hubbell recognizes Walter A. Wright as an AV® peer review rated attorney, the highest such rating available to any individual lawyer. This rating shows that a lawyer has reached the height of professional excellence and is recognized for the highest levels of skill and integrity. Trinity Law Group holds the distinction of being named a “Preeminent Law Firm” for its legal ability and ethical standards in the Bar Registry of Preeminent Lawyers. This preeminent rating is only given to the top two percent of law firms in the nation.
Read more about the transaction:
From Rick Schwartz's Blog: One day they may write about this. How a small New England Candy company disrupted one of the largest and oldest industries in the world. Congratulations to Melville Candy Company of Massachusetts.
Mass High Tech: Candy.com domain nets $3M, finds Weymouth e-commerce base