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Food & Beverage | Private Equity

Carlyle-Cardinal Ireland has sold Lily O'Brien's Limited to Colian Holding S.A.

Carlyle-Cardinal Ireland (CCI) has sold Lily O'Brien's Limited to Colian Holding S.A. for US$47.4 million.

Lily O'Brien's is an Irish-based manufacturer of premium chocolate products. The company produces and sells a range of chocolate products (chocolate gifting boxes, bars, novelty chocolate products) primarily through large supermarket chains. In addition, Lily O'Brien's produces a range of dessert products for the airline industry. The company has an international focus, with the majority of its revenues being derived outside of Ireland.

Colian Holding produces and distributes food products. It manufactures and supplies a range of confectionery products, culinary products such as seasoning, nuts, and dried fruits, and beverages under the Goplana, Solidarnosc, Jutrzenka, Grzeski, Familijne, Jezyki, Akuku!, Appetita, Siesta, and Hellena brands. It also offers chocolate products. The company exports its products to approximately 60 countries worldwide.

CCI is an Ireland-based private equity fund formed as a 50:50 joint venture between the Dublin-based Cardinal Capital and US-based Carlyle Group. The vehicle became active in the end of 2013 with US$150 million backing from the Irish Strategic Investment Fund (ISIF). It closed in September 2014 with approximately US$360 million. CCI targets small to medium businesses headquartered in Ireland and Northern Ireland, with at least single digit million EBITDA figures.

Oaklins' team in Ireland acted as lead advisor to the seller in relation to the sale process, financial analysis and final negotiations.

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 David  Lyons

David Lyons

Managing Director
Dublin, Ireland
Oaklins IBI

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