The private equity firm made the investment in partnership with Lakrids By Bülow’s management, with the aim of supporting the brand’s growth across Europe, Asia and the US.
Completion of the transaction is expected to take place in the autumn of 2025, subject to customary regulatory approvals.
Lakrids By Bülow products are sold by nearly 2,000 retailers in 35 countries, with its range manufactured at a production facility in Copenhagen. In 2024, the firm reported a revenue of DKK 376 million or £43.5 million.
“We are immensely proud to welcome IDG Capital as a new partner,” said Fredrik Nilsson, CEO at Lakrids By Bülow.
“Their global reach enables us to accelerate our expansion, and I’m excited to unlock the next chapter of growth alongside our new owners. In the first half of 2025, we delivered strong growth of 20% year-over-year, with double digit growth across all channels and especially strong performance in DACH, UK and the US. Looking ahead, we will continue to grow through our dynamic multi-channel model with B2B, ecommerce and own retail stores.“
The brand’s founder and creative director Johan Bülow added that IDG Capital’s support as majority owner represent a key step in “making the world love liquorice”.
“Valedo has been a solid partner in creating a strong position in northern Europe,” Bülow said.
“Now an exciting international growth journey will be fueled further. Lakrids By Bülow will be able to benefit massively from IDG Capital’s international experience and consumer know-how.”
Finally, Alexandre Quirici, a partner at IDG Capital, commented: “Lakrids By Bülow is an innovative confectionery brand, renowned for its quality craftmanship, its unique flavours and its distinctive packaging. We are delighted to be part of this new chapter for the brand and to introduce these exceptional products to consumers worldwide.”
Past and current investments of IDG Capital include Moncler, Acne Studios, Gentle Monster, HeyTea, Insta360, Luckin Coffee, Rossignol and Xiaomi.
