Polish food producer and distributor Colian Holding, owner of UK chocolate brand Elizabeth Shaw, has agreed a €40 million deal to acquire Irish chocolatier Lily O’Brien’s.
Colian Holding has agreed the deal on a debt-free, cash-free basis with Lily O’Brien’s existing shareholders The Carlyle Group and members of Lily O’Brien’s management team.
The Carlyle Group said the deal is expected to be completed later this month, and Lily O’Brien’s will retain its current management team when the deal is concluded.
The chocolatier exports premium chocolate to over 15 countries and currently employs 120 staff at its Newbridge factory in Ireland. The brand registered revenue in excess of €30 million in 2016.
Eoin Donnelly, CEO of Lily O’Brien’s said: “We selected Colian as the new owner for the business given our shared vision of growing our brand globally.
“Colian exports to over 60 countries worldwide, providing us with access to potential new markets, and their commitment to new product development and innovation is very exciting for employees and the company”.
© FoodBev Media Ltd 2022
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.