M&F Worldwide

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M & F Worldwide
Type	Subsidiary
Industry	holding company
Founded	June 1, 1988
Headquarters	New York, New York , USA
Key people	Barry F. Schwartz, CEO Ronald O. Perelman
Products	checks, licorice products
Services	direct marketing, contact center
Parent	MacAndrews & Forbes
Subsidiaries	Harland Clarke Holdings Corp. Mafco

M&F Worldwide Corp. is a privately held holding company based in New York City. It was incorporated in Delaware on June 1, 1988. 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.

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 blocked by an M & F shareholder as the stock was trading at only 23% of that value.

In July 2013, the firm's main subsidiary, Harland Clarke, agreed to sell Harland Financial Solutions to Davis & Henderson for $1.2 billion. The acquisition was completed on August 16, 2013. In February 2020, Harland Clarke Holdings Corp. relaunched itself under the name Vericast, repositioning as an enterprise-level data and analytics business. The major businesses operating under the Vericast umbrella include Valassis, Harland Clarke, RetailMeNot, and QuickPivot.

Subsidiaries

Name (state of Incorporation)

• Vericast Corp. (Delaware) – formerly Harland Clarke Holdings Corp., which was formerly CA Acquisition Holdings Inc.; rebranded as Vericast in February 2020
  • 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)
      • Data Management I LLC
  • 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)

References