After the sale of the factory, the São Paulo Court orders the Chocolates Pan brand to be auctioned for R$ 27.5 million to pay creditors

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In the analysis of the judicial expertise, the chocolate brand has an estimated revenue of R$51 million in five years. Factory in São Caetano do Sul, in Greater SP, was sold by Cacau Show for R$71 million. Products from the company Chocolates Pan, which were successful in the 60s, 70s and 80s in Brazil Reproduction After selling the former factory of the company Chocolates Pan’ to Cacau Show, the São Paulo Court ordered that the company’s brand also be auctioned for pay the creditors of the company’s bankruptcy estate. According to the expertise determined by the judge who declared the bankruptcy of Chocolates Pan, the brand responsible for manufacturing coins, pencils and chocolate cigarettes has a minimum market value of R$27.5 million. This will be the starting price of the auction, which does not yet have a date to take place. The value from the sale of the brand aims to pay the company’s creditors, which were declared bankrupt at the end of February. In the expert analysis, the chocolate brand has an estimated revenue of R$51 million in five years. Furthermore, the assessment considers that, as sector information and PAN’s history point to a mature and consolidated brand, the royalty rate to be charged in a possible licensing is 5%, which represents more than R$ 2.1 million by 2028. The auction of the Chocolates Pan brand will be carried out by the company Positivo Leilões, which was also responsible for the auction of the factory located in the neighborhood of Santa Paula, an upscale area of ​​São Caetano do Sul, in Greater São Paulo. The factory was purchased by the chocolate company Cacau Show, for R$71 million. Former Chocolates Pan Factory in the Santa Paula neighborhood, in São Caetano do Sul, Grande SP. Disclosure Chocolates Pan was known for manufacturing the famous “chocolate cigarettes” in the 60s, 70s and 80s, as well as chocolate pencils, which were equally successful during the period (see below). The acquisition of the factory was made by the company CSH Administração de Bens Intangíveis Ltda, the investment arm of the Cacau Show Group, which paid for the 10,432 m² space, a value 33% higher than the initial price stipulated by the Court for the auction. The purchase had been made at the auction held on September 15th, but it was only on this Thursday (19th) that the São Paulo Court approved the result of the auction. Cacau Show won all the auctioned items, purchasing the area of ​​the property where the factory was located, as well as the equipment and machines on site. Internal part of the former Chocolates Pan Factory in the Santa Paula neighborhood, in São Caetano do Sul, Grande SP. Reproduction For the factory’s official auctioneer, Erick Telles, the court’s decision is very important, because it defines the amount that will be received for payments from creditors and demonstrates the effectiveness of the measures adopted within the process, which, according to him, is progressing with considerable agility. “Another good news is that the auctioned assets, which were previously idle, are now being used again, generating value not only for the auction bidder, but also for society as a whole, which will benefit directly and indirectly from the generation of wealth, collection of new taxes and a useful use of the property”, he said. Bankruptcy declared According to the auctioneer, Cacau Show will receive the property free of any debt. The sale value aims to pay creditors and give the property a useful purpose for society, since the company Chocolates Pan was declared bankrupt by the Court at the end of February this year. The company had presented the request for self-bankruptcy within the judicial recovery process it had been undergoing since 2020. There was a dispute in the case in court, which is the term for the transformation of a judicial recovery process into bankruptcy. Chocolates Pan manufactures the ‘chocolápis’ Personal file The decision was made by judge Marcello do Amaral Perino, from the 1st Regional Court of Business Jurisdiction and Conflicts Related to Arbitration of São Paulo. “Recognized as a persistent debtor of taxes and without its registration regularized, there is no way to consider the continuity of the activities of the company under recovery as possible”, wrote the judge. “In this regard, it is worth remembering that for more than 20 (twenty) years the company under recovery has not regularly collected its state taxes, a conduct that appears persistent and disloyal towards its competitors”, he said, in another excerpt. The company was 85 years old and had four branches. In October 2016, it was purchased by Grupo Brasil Participações. The judicial administrator had stated in the records that there was a need to declare bankruptcy. Former Chocolates Pan Factory in the Santa Paula neighborhood, in São Caetano do Sul, Grande SP. Disclosure In a note, previously, the State Attorney General’s Office, responsible for the debts registered in the company’s active debt, said that Pan has more than R$126 million in registered debts. “Of this amount, R$ 125 million are declared ICMS debts, those previously recognized by the taxpayer itself. There is no formal request for installments or debt transactions within the scope of the PGE”, he added in the note. Until the declaration of bankruptcy, the staff was 52 people. The company stated that revenue suffered a drop with the 2017 restructuring and that, during the Covid-19 pandemic, there was an even greater reduction. Tax debts must be paid with part of the machinery and properties valued at around R$182 million. Tradition Chocolates Pan Reproduction/Instagram Among the company’s most traditional products are, in addition to the cigarette, the “chocolápis” (chocolate pencil) and coins, also made of chocolate. The company was founded on December 12, 1935, when the first products manufactured were the Chocolate Cigarrinho and the Bala Paulistinha — inspired by the Constitutionalist Revolution of 1932 —, as well as square-shaped chocolate bars. Pan was opened by engineers Aldo Aliberti and Oswaldo Falchero, on Rua Maranhão, in the city of São Caetano do Sul, in ABC Paulista. In 1941, a competition was promoted with an album with astronautical figures. People found the stickers in São Paulo bullets to paste in albums. Various prizes were given to anyone who completed a page or even the entire album. The promotion lasted two years. The best-selling products currently, according to the company, are gingerbread, which was launched in 1945, sprinkles for sweets, milk chocolate coins, chocolates and gummy bears. In October 2016, at the age of 81, Pan changed hands. The family sweets business was acquired by Grupo Brasil Participações.

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