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
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