Type Subsidiary Founded 1 June 1988 | Parent organization MacAndrews & Forbes | |
Key people Barry F. Schwartz, CEORonald O. Perelman Products checks, licorice products Services direct marketing, contact center Subsidiaries Harland Clarke, Scantron Corporation | ||
M&F Worldwide Corp. , formerly Power Control Technologies, Inc., was incorporated in Delaware on June 1, 1988 and was formerly a New York Stock Exchange listed public holding company (as MFW) that is now a part of the Ronald O. Perelman group of companies. It was acquired by the private company MacAndrews & Forbes in 2011.
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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., which became publicly traded. Powers Control then acquired in 1996 Flavors Holdings Inc. for $180 million included the licorice business subsidiary, Mafco Worldwide Corp.
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 block by an M & F shareholder as the stock was trading at only 23% of that value.
Subsidiaries
Foreign
Name of Subsidiary Jurisdiction
Recent news
In July 2013, the firm’s main subsidiary, Harland Clarke, agreed to sell Harland Financial Solutions to Davis & Henderson for $1.2 billion.