M&F Worldwide Corp. is a privately held holding company based in New York City.

[3] 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., became publicly traded.

Power Control then acquired Flavors Holdings Inc. in 1996 for $180 million, which included the licorice business subsidiary Mafco Worldwide Corp., which manufactures more than 70% of the worldwide licorice flavors.

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.

[4] In July 2013, the firm's main subsidiary, Harland Clarke, agreed to sell Harland Financial Solutions to Davis & Henderson for $1.2 billion.