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 Inc. be sold to M & F Worldwide at Mafco Holdings' purchase price but was block by an M & F shareholder as the stock was trading at only 23% of that value.[4]
In July 2013, the firm's main subsidiary, Harland Clarke, agreed to sell Harland Financial Solutions to Davis & Henderson for $1.2 billion.[5]
Subsidiaries
- Name (state of Incorporation)
- Harland Clarke Holdings Corp. (Delaware) – formerly CA Acquisition Holdings Inc.
- Harland Clarke Corp. (Delaware)
- Checks in the Mail, Inc. (Delaware)
- John H. Harland Company of Decatur (Georgia)
- Harland Financial Solutions (Oregon)
- HFS Scantron Holdings Corp. (New York)
- Scantron Corporation (Delaware)[1]
- Data Management I LLC [6]
- Valassis
- RetailMeNot
- Flavors Holdings Inc. (Delaware)
- Mafco Worldwide Corp. (Delaware)
- Mafco Shanghai Corp. (Delaware)
- Pneumo Abex LLC (Delaware)
- Pneumo Abex Lessee Corp. (Delaware)
- Merisant Corp.
- PCT International Holdings Inc. (Delaware)
- EVD Holdings Inc. (Delaware)
- Concord Pacific Corp. (Maine)
- Centralia Holdings Corp. (Georgia)[7]
Foreign
Name of Subsidiary (Jurisdiction)
- EVD Holdings S.A. (France)
- Extraits Vegetaux Et Derives, S.A. (France)
- Wei Feng Enterprises Ltd. (British Virgin Islands)
- Xianyang Concord Natural Products Co. Ltd. (People's Republic of China)
- Zhangjiagang Free Trade Zone MAFCO Liantai Biotech Co., Ltd. (People's Republic of China)
- Mafco Weihai Green Industry of Science and Technology Co. Ltd. (40% owned) (People's Republic of China)
- Scantron Canada, Ltd. (Canada)
- Harland Israel Ltd. (Israel)
- Harland Financial Solutions Worldwide Limited (Ireland) [7]
References
- New Brand in Financial Services Brings Industry's Most Expansive Lineup of Checks and Payment Products to its Clients Harland Clarke Press Releases, retrieved 2008-05-21^
- M & F Worldwide CorpP. 10-K ANNUAL REPORT SEC, 1997-12-31, retrieved 2008-05-21^
- M & F Worldwide Announces Completion of Acquisition by MacAndrews & Forbes Holdings Inc. retrieved 16 April 2015^
- M & F Worldwide Corp. -- Company History Funding Universe Company Histories, retrieved 2008-05-28^
- Euan Rocha. Davis + Henderson to buy Harland Financial for $1.2 billion Reuters, 23 July 2013^
- M & F Worldwide Corp. Form 10-K Annual Repor secinfo.com, 2007-12-31, retrieved 2008-05-20^
- Form 10-K Annual Report EX-21.1 Subsidiaries United States Securities and Exchange Commission, 2007-12-31, retrieved 2008-05-20^