Irish chocolate and desert manufacturer Lilly O’Brien’s received a “significant investment” from Carlyle Cardinal Ireland (CCI) to support the growth of the business.
CCI invests in small and medium sized businesses across Ireland. Terms of the transaction were not disclosed.
Robert Easton, md of CCI, said Lily O’Brien’s was a great example of an Irish business with a world-class reputation.
“The company’s growth has accelerated in recent years, thanks to their unique recipes delivering award-winning products fuelling increasing demand in the domestic and international marketplace,” he added. “Our investment will help Lily O’Brien’s takes their chocolates and desserts to an even wider audience of consumers around the world.”
The company has driven strong product growth outside of the UK and Ireland, with 2012 sales to Australia increasing by 370% between 2011 and 2012, and sales to the U.S. increasing by 100% in the same period.
The firm’s founder Mary Ann O’Brien, who will remain with the company, praised the management team, staff and loyal customer base for aiding its growth from the business she formed in her kitchen in 1992 to the international brand it is now.
“The investment from CCI, along with CCI's global network should ensure Lily O'Brien's continues to grow to the next level,” she added. “The CCI team has a proven track record of working with businesses such as ours and we are excited about what we can achieve in the coming years.”