Private equity firm L Catterton has decided to not sell Ferrara Candy Co after running an auction for the maker of candy such as Fruit Stripe gum and Now & Later chews, people familiar with the situation said this week.

L Catterton had put Ferrara up for sale about six months ago after receiving inquiries from other companies and private equity firms. Canadian buyout firm Onex Corp (ONEX.TO) had come close to buying Ferrara, Reuters reported last month, but the two parties could not agree on a price.

L Catterton was hoping a deal would value Ferrara at more than $1.3 billion, including debt, according to the sources.

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