Swedish confectionery company Cloetta yesterday confirmed the purchase of Irish gourmet jelly bean producer Aran Candy Ltd and its brand, The Jelly Bean Factory.
The deal is reportedly worth €15.5 million.
“The Jelly Bean Factory has shown strong growth over the last years and the acquisition will significantly strengthen Cloetta’s position in the UK market. In addition, we intend to roll out the products in our current core markets over time,” said Bengt Baron, Cloetta’s CEO
Last year Jelly Bean Factory sales topped $15 million, with the UK as the core market. The United States, Canada, the Middle East, Ireland and Germany also represent key markets for the brand.
The company produces 36 different natural flavours of jelly beans in its Dublin production facility, which was built in 2005 and employs 70 people. Father-and-son team Peter and Richard Cullen founded Aran Candy Ltd. in 1998. Richard Cullen will continue as managing director for the company.
"We are very pleased to become part of the Cloetta Group,” says Richard Cullen. “With Cloetta’s focus on brands and strong routes-to-market in their core markets, I am convinced that we will be able to further strengthen and accelerate the growth of The Jelly Bean Factory brand."
© 2014 - European Supermarket Magazine by Enda Dowling
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