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Wall Street Is Now Profiting Off Of Your Passover Seder

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MANISCHEWITZ
Five pound cartons of Passover matzo are stacked on a palette at the Manischewitz Co. factory in Newark, New Jersey, U.S., on Thursday, Feb. 20, 2014. Manischewitz is the nation's largest manufacturer of processed kosher food products. Photographer: Ron Antonelli/Bloomberg via Getty Images | Bloomberg via Getty Images

NEWARK, N.J. (AP) — In a story April 8 about the sale of matzo maker Manischewitz, The Associated Press reported erroneously that the company also makes wine. Manischewitz wine is made by Constellation Brands.

A corrected version of the story is below:

Matzo maker Manischewitz sold to investment firm

Matzo maker Manischewitz sold to investment firm just ahead of Passover

NEWARK, N.J. (AP) — Matzo maker Manischewitz has been sold, just in time for the Passover Seder meal.

Sankaty Advisors, an arm of private equity firm Bain Capital, bought the company from a group including investment firm Harbinger. The price was not disclosed.

Manischewitz is one of the few remaining mass manufacturers of matzo left in the U.S. as the market has lost ground to imports.

The company says that the deal will allow Manischewitz to continue making kosher products. Sankaty says Manischewitz can capitalize on a growing mainstream interest in kosher foods.

The Newark, N.J.-based company announced the deal Tuesday. Passover starts next week.

The New York Times reported the sale late Monday night.

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