Cloetta acquires The Jelly Bean Factory

The Nordic confectionery company group Cloetta AB has acquired Aran Candy Ltd and the brand “The Jelly Bean Factory”, an Irish company producing and selling gourmet Jelly Beans worldwide. The acquisition will significantly strengthen Cloetta’s position in the UK. The Jelly Beans from “The Jelly Bean Factory” are premium gourmet Jelly Beans produced in 36 different natural flavors.

The sellers are Peter and Richard Cullen, the founders of The Jelly Bean Factory.Initially, Cloetta has acquired 75% of the shares of Aran Candy Ltd. The remaining 25% will be acquired in 2016. The upfront purchase price is € 15.5 m in cash and the remaining shares will be acquired based on 2015 result targets. The Jelly Bean Factory had sales of about € 11 m in 2013 with the UK as the core market. The USA, Canada, Middle East, Ireland and Germany are other important markets.

“We are very pleased to become part of the Cloetta Group. 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,” says Richard Cullen, Managing Director at Aran Candy Ltd. Richard Cullen will continue as Managing Director for the company.

www.cloetta.com