Ireland: Jelly bean manufacturer Aran Candies acquired by Cloetta
Cloetta Group has announced that it has acquired the Irish confectionery company Aran Candies.
Aran Candies is mostwidely known as the manufacturer of The Jelly Bean Factory brand, which produce 36 varieties of Jelly beans.
Cloetta has acquired 75% of the share of the Irish company for SEK140m ($21 million) with the remaining 25% to be acquired by 2016.
“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. 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,” commented Bengt Baron, CEO of Cloetta.
Richard Cullen, co-founder and manager director of Aran Candies, said “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.”