Irish private equity company, Melior Equity Partners has agreed an investment in Rose Confectionery to support the continued strong growth of the business.
Rose – which sells a broad product range including freeze pops, mallows and fruit and nuts – boasts a number of licences in its portfolio. These include SLUSH PUPPiE, Vimto, Robinsons, Swizzels and Chupa Chups, while it also works with brands such as Tango and Fruit Shoot.
“Melior Equity Partners are the right team to help us achieve the next phase of our ambitious growth plans and we are delighted to have secured them as investors into our business,” commented Richard Kennedy, group ceo and md of Rose Confectionery. “After more than 30 years in business and having grown very strongly over the last few years to reach €40 million in sales, we knew it was the right time to seek additional investment to help us continue that growth.
“It was very important for us to get the right partner with the right fit who would recognise and respect the company and leading brand we have created. We are very proud of our business, our culture and above all our staff for whom this is positive news, opening up exciting career development opportunities.”
The investment from Melior – which has also helped to grow similar Irish food and confectionery businesses including Lily O’Brien’s – will support the future growth of the business, specifically expanding the Rose team, pursuing opportunities for international sales and facilitating further new category growth.
Welcoming the announcement, Steven Watt, md of Rose Marketing UK, commented: “We have made great strides in the UK over the last 15 years working with a set of leading brands and developing a position as the preeminent innovator in several categories including confectionery and freeze in particular. We have exciting plans for the future and our partnership with Melior will significantly strengthen our business growth strategy.”
Rose’s management team will remain unchanged with Richard Kennedy, group ceo and md of Rose Confectionery; Phelim Daly, md of Rose Manufacturing; and Steven Watt, md of Rose Marketing UK remaining in their current leadership roles and continue as significant shareholders in the business.
Peter Garvey, co-founder of Melior and Jonathan Dalton, md of Melior, will join the board of the company as part of the transaction.
(Main image, left to right: Peter Garvey, co-founder of Melior Equity Partners and Richard Kennedy, group ceo and md of Rose Confectionery.)
Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.
