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Print Edition StoriesMonday, June 8, 2009
Candy.com domain nets $3M, finds Weymouth e-commerce base
By Mass High Tech staff
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Executives of a Weymouth-based candy company have spent $3 million to acquire the domain name Candy.com, and plan to launch an online candy shopping service under the name on July 1.
G&J Holdings LLC bought the domain name from domain-name broker Rick Schwartz. G&J Holdings consists of Joe Melville, CEO of Melville Candy Corp. in Weymouth and Greg Balestrieri, vice president of Melville Candy, a 30-year-old candy manufacturing company owned by Gary Melville, father of Joe Melville.
G&J said in a news release that “the vision of Candy.com is to provide the best online customer service candy shopping experience in the world.” The consumer-facing site will feature more than 5,000 confectionary items, live customer support through the Internet and toll-free calls and social shopping experiences, including product reviews, blogs and discussions boards. G&J has signed on distributors in California and Virginia.
Attorney Walter Wright of Trinity Law Group LLC in Boston structured, negotiated and documented the transaction for G&J Holdings.
The $3 million purchase price is the second highest domain name sale price in 2009, trailing only the $5.1 million sale of Toys.com to Toys R Us.
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