Lotte to acquire European chocolate maker Guylian
TOKYO —
The Lotte group, a Japanese confectionery giant, has agreed with Belgium’s Chocolaterie Guylian NV to acquire the premium chocolate maker. Under the agreement, Tokyo-based Lotte Co and South Korean group firm Lotte Confectionery Co are expected to buy all outstanding shares in the Belgian company from its founding family for about 110 million euros by the end of this year. They are to fix their ownership ratios later.
The Lotte group intends to increase its lineup of high-priced products by using Guylian’s brand power and production technology, informed sources said.
Lotte also intends to consider joint procurement with Guylian of such materials as cocoa beans and palm oil to cope with their soaring prices.
While Guylian will continue under the current management, the Lotte group plans to dispatch officials to its board, the sources said.
Lotte aims to increase Guylian’s sales to around 20 billion yen over the next three to four years from some 13 billion yen now by boosting business in Asian countries through its sales networks.
JCN
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rajakumar
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Guylian/Lotte team up for own good. Way to go japan and belgium.
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urufuls
Now maybe we'll get some chocolate that doesn't taste like wax.
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