Lotte buys Belgian chocolatier Guylian

South Korea s concern Lotte Confectionery Co. has announced that it acquired the Belgian chocolate maker Guylian n.V., Sint-Niklaas, for € 105 m, marking its debut in the European premium chocolate market, Lotte said in Seoul. Lotte, South Korea s biggest snack company, signed a contract under which it will purchase a 100% stake in the company. "With the acquisition of Guylian, Lotte is aiming to make a successful entry into the premium gift chocolate market," Lotte said in a statement.


Lotte will jointly set up an investment company with Japan s Lotte in the Netherlands to buy Guylian from owner Dominique Foubert and two other entities, according to Lotte s filing to the Korea Exchange. Founded in 1960 by Guy Foubert and his wife Liliane, Guylian achieved sales worth € 77,7 m last year. 96% was generated abroad; the company exports to 104 countries.


As part of its global expansion strategy, Lotte is also seeking to launch a holding company in China and build a plant in Russia, and expects overseas businesses to eventually represent about a fifth of its annual sales.