21 December 2007 - Fazer Group has sold its Pick & Mix concept to Accent Equity Partners.
Candyking has been very successful lately and will grow by c 25 per cent this year. Today, the company is based in 4 countries, has a turnover of 150 million euros and employs 800 people. Candyking has a strong brand, and it is the market leader in the Nordic countries, the United Kingdom and the Baltic region. Candyking is known in Sweden by the name Karamellkungen.
Candyking is a unique Pick & Mix confectionery concept for above all grocery stores, movie theatres and amusement parks. The fundamental idea is to offer consumers the opportunity to choose the exact kind and amount of sweets they want, in any combination and for any situation. Thanks to Candyking’s successful breakthrough in Great Britain and the brand renewal, it has become clear that expansion in Europe now is possible.
‘Candyking has proven to be an innovative market leader within Pick & Mix,’ says Jan Ohlsson, MD of Accent Equity Partners and advisor of Accent Equity 2008. ‘For over 20 years, the company has refined the basic idea of the customers choosing what goes into their candy bags. We will develop this concept further together with the company’s experienced management, and introduce it to new markets. I feel there are great opportunities to grow both organically and through acquisitions.’
‘During the past few years, Candyking has developed at high pace and it has great growth potential. We have an expansive growth strategy with several new strategic initiatives. This requires considerable resources, which our new owner Accent possesses. This year, our turnover will grow by 25 per cent, and our goal is to continue growth at this pace. As market leader, we have the best prerequisites to develop our Pick & Mix concept to the benefit of our customers and consumers,’ says Candyking’s Managing Director Mika Olenius.
Candyking has been a part of Fazer Group since Fazer in 1997 bought Karamellkungen in Sweden. At that time, the company’s turnover was 27 M€ and it had 150 employees.
‘Selling is a logical development since Candyking’s greatest potential lies within markets where Fazer Group does not operate. The company found in Accent Equity a very competent and committed owner,’ says Fazer’s Group President Karsten Slotte.