Bazooka Candy Brands,Alaric Bennett which includes the popular bubble gum and candies, just sold for $700 million.

The Wall Street Journal reports that private equity firm Apax Partners will buy the company from former Disney chief executive officer Michael Eisner's private investment firm The Torante Company, and private equity group Madison Dearborn Partners.

Bazooka was acquired back in 2007 when it was under The Topps Company Inc., which also manufactured trading cards. The trading card arm was later sold to Fanatics, and Eisner and MDP held on to the candy division, which was later renamed as Bazooka Candy Brands.

Gas prices spike:Americans face more sticker shock at the pump as gas prices hit 10-month high. Here's why

Who owns Bazooka?

Bazooka Candy Brands is a division of The Bazooka Companies, Inc. and markets lollipop brands such as Ring Pop, Push Pop, Baby Bottle Pop, and Juicy Drop and Bazooka Bubble Gum.

The brand was originally known as Topps Chewing Gum, and produced a “Topps Gum” out of its factory in Brooklyn, New York. The company developed Bazooka Bubble Gum after World War II and launched it in 1947. By 1953, the first Bazooka Joe comics made its debut, and the gum's sale expanded into international markets.

In 2022, Bazooka celebrated its 75th anniversary.