IRELAND – Melior Equity Partners has made a major investment in Rose Confectionery, a producer of biscuits, confectionery and savory snacks to support the continued strong growth of the business.
Established in 1983, Rose operates as three separate divisions – Rose Manufacturing, Rose Confectionery and Rose UK – and is Ireland’s leading manufacturer of mallow and wafer products.
The Dublin-headquartered company has long-term freeze pop licence agreements with Slush Puppie, Vimto, Robinsons, Swizzels and Chupa Chups, made at its 18,000 square feet facility in Edenderry in County Offaly, Ireland.
According to Richard Kennedy, group CEO and MD of Rose Confectionery, having grown substantially in the past few years, the time was right for the 30-year-old business to seek a boost.
“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,” said Richard Kennedy, group CEO and managing director of Rose Confectionery.
“After more than 30 years in business and having grown very strongly over the last few years to reach €40 million [US$40.7m] in sales, we knew it was the right time to seek additional investment to help us continue that growth.”
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.
Rose is the third investment from Melior Equity Partners Fund II, backed by a pool of local and international blue-chip investors, including The Carlyle Group, the European Investment Fund, Ireland Strategic Investment Fund, Bank of Ireland and AIB.
The breadth and nature of its investors provide Melior with significant capacity to fund transactions of any scale in the Irish market.
Rose’s management will remain unchanged, led by Kennedy. Steven Watt and Phelim Daly, MD of Rose Manufacturing, will remain in their current roles and as significant shareholders. Melior’s cofounder Peter Garvey and MD Jonathan Dalton will join the Board as part of the transaction.
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