Earlier this year, Xplor Investments partnered with See’s Candies an American manufacturer and distributor of candy, particularly chocolates.

It was founded by Charles See, his wife Florence, and his mother Mary in Los Angeles, California in 1921. The company is now headquartered in South San Francisco, California and has been owned by Warren Buffett’s Berkshire Hathaway Corporation since 1972. See’ Candies annual revenue in 2023 was in excess $410.0M.

Xplor Investments and See’s Candies have entered into a long-term strategic partnership, with Xplor as the exclusive licensee to grow the brand in the Middle East. This partnership will initially see the opening of new stores across the United Arab Emirates and Saudi Arabia.

History of See’s Candies

When it comes to investing, Warren Buffett is the GOAT – but of all his moves, it’s a Californian candy company that he rates as the “perfect business”.

See’s Candies holds a special place in Buffett’s heart because it was one of the most transformational investments of his career.

This sentiment stems from a few key reasons:

• It was one of the first wholly-owned private acquisitions made by Buffett’s investment firm, Berkshire Hathaway, bought outright from the multi-generational See family.
• It was the first time his business partner, Charlie Munger, successfully persuaded Buffett to prioritise quality businesses over bargains, a shift from Buffett’s earlier strategy which had been heavily influenced by his mentor, Benjamin Graham.
• See’s Candies proved to be one of Berkshire’s best investments. The company’s incremental investment of $32 million over its lifespan produced an additional $1.35 billion in aggregate profits during that period.

Long term partnership

Leveraging its extensive experience in retail operations, Xplor will deliver 12 new stores across Saudi Arabia and the UAE over the next 18 months. We are delighted to partner with such a legacy brand and contribute to its long-term growth in this region