Kinnerton, a subsidiary of confectionery and snacks group Zetar, has acquired Irish chocolate maker Lir Chocolates for a maximum consideration of E8m (£5.7m).
Lir Chocolates makes luxury brand and own-label boxed chocolates and in the year to 28 February 2007 reported sales of E8.5m (£6.1m) and EBITDA of E0.54m (£0.4m).
“There is a real opportunity to combine Lir's expertise in product innovation and quality with our existing confectionery division's distribution, production skills and purchasing resources,” said CEO Ian Blackburn.
“We will be investing substantially in the development and expansion of Lir's production facility to facilitate the exciting growth of opportunities we perceive for Lir.”
Lir Chocolates makes luxury brand and own-label boxed chocolates and in the year to 28 February 2007 reported sales of E8.5m (£6.1m) and EBITDA of E0.54m (£0.4m).
“There is a real opportunity to combine Lir's expertise in product innovation and quality with our existing confectionery division's distribution, production skills and purchasing resources,” said CEO Ian Blackburn.
“We will be investing substantially in the development and expansion of Lir's production facility to facilitate the exciting growth of opportunities we perceive for Lir.”
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