BBX Capital BBXIB

BBX Capital is a Florida based diversified holding company whose principal holdings are Altman BBX Sweet Holdings and Renin. Altman focuses on the acquisition development and sale of multifamily apartment communities warehouse and logistics facilities and single family master planned housing communities primarily located in Florida. BBX Sweet Holdings owns and manages the IT’SUGAR specialty candy retail chain and the Las Olas Confections and Snacks manufacturer and wholesaler of chocolate and other confectionery products. Renin designs manufactures and distributes sliding doors door systems hardware and home décor products through retail commercial and direct installation channels in North America.

Altman generates revenue through development fees acquisition fees general contractor fees property management fees and proceeds from the sale of completed real estate projects. BBX Sweet Holdings earns revenue from retail sales of candy at its IT’SUGAR stores and from wholesale sales of confectionery products through Las Olas Confections and Snacks. Renin derives revenue from the sale of sliding doors barn doors stair parts and related hardware to big box retailers from sales to original equipment manufacturers and fabricators and from direct installation of door systems in newly constructed homes condominiums and apartments.

The company operates through the following segments: Altman BBX Sweet Holdings and Renin.

• Altman engages in the acquisition development and sale of multifamily apartment communities warehouse and logistics facilities and single family master planned housing and operates through its platforms Altman Living Altman Logistics and Altman Opportunity Investments.
• BBX Sweet Holdings owns and manages the IT’SUGAR specialty candy retail chain with over one hundred locations in the United States and one location in Canada and the Las Olas Confections and Snacks manufacturer and wholesaler of chocolate and other confectionery products.
• Renin designs manufactures and distributes sliding doors door systems hardware and home décor products and sells them through retail channels to big box retailers such as Lowe s Home Depot and Menards through commercial channels to original equipment manufacturers and fabricators and through direct installation channels to home builders condominium developers and apartment owners in the Greater Toronto area.

In the real estate development sector Altman competes with national and regional developers private equity funds and other institutional investors but benefits from its integrated platform that combines development management construction and property management capabilities. BBX Sweet Holdings operates in a highly fragmented confectionery market where it faces competition from large multinational candy makers and specialty retailers but differentiates itself through its novelty focused product mix and its presence in high traffic entertainment venues. Renin competes with imported door hardware manufacturers and domestic suppliers but maintains a competitive position through its diversified product line its presence in major retail chains and its direct installation service that adds value for builders.

Altman’s customers include joint venture partners lenders homebuilders and ultimately the renters or buyers of its multifamily apartment communities warehouse facilities and single family homes. BBX Sweet Holdings serves individual consumers visiting its IT’SUGAR retail stores and wholesale customers such as convenience stores gift shops and amusement parks that purchase its confectionery products. Renin’s customer base comprises big box retailers including Lowe s Home Depot and Menards original equipment manufacturers and fabricators and direct installation clients such as home builders condominium developers and apartment managers in the Greater Toronto area.