Ireland: Colian to acquire Lily O’Brien’s

Colian, a Polish manufacturer of confectionery, dried fruit and drinks, is to acquire Irish chocolate firm Lily O’Brien’s from investment fund The Carlyle Group for €40 million ($48 million).

“Lily O’Brien’s represents a compelling strategic fit for Colian with its high level of brand recognition and market position, complementing Colian’s existing products”, The Carlyle Group said in a press statement.

Founded in 1992, Lily O’Brien’s employs 120 people at its Newbridge plant and generated revenues in excess of €30 million ($36 million) during 2016. Beginning life as a branded chocolate business, the firm expanded into the desserts space in 2011.

Commenting on the deal, Lily O’Brien’s CEO Eoin Donnelly 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”.

The deal is expect to conclude in January 2018.

Source: The Carlyle Group