Swedish Confectionery Business Acquires The Jelly Bean Factory
Published on May 30 2014 3:36 PM in A-Brands
Swedish confectionery company Cloetta has acquired jelly bean producer Aran Candy Ltd and its brand, The Jelly Bean Factory, in a deal thought to be worth €15.5 million.
In a statement, Cloetta said that the deal will 'significantly strengthen Cloetta’s position in the UK', one of its key target markets.
“Jelly Beans are known as a product to consumers world-wide, and the acquisition of 'The Jelly Bean Factory' will support Cloetta’s profitable growth by adding an offering to the Munchy Moments within the sugar confectionary category," said Bengt Baron, CEO of Cloetta.
"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."
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.