Lily O’Brien’s

Date of CCI investment: 2014

Description: Premium boxed chocolate and desserts manufacturer

Website: www.lilyobriens.com

Investment Team:
Jonathan Cosgrave
Esmond Greene
Robert Easton

Status: Realised

Established in 1992, Lily O’Brien’s is an Irish-based manufacturer involved in the sale and distribution of premium branded chocolates and potted desserts.

Although well established in Ireland, Lily O’Brien’s is an export-led business with more than 80% of its revenue coming from international sales across 15 countries, including the UK, USA and Australia. Its primary product focus is branded chocolate, offering diverse ranges of gifting, every day, self-treat and seasonal products.

CCI acquired a majority stake in Lily O’Brien’s in January 2014. Under CCI’s ownership, Lily O’Brien’s generated exceptional revenue growth and margin enhancement through a focused international growth strategy.

In January 2018, CCI agreed the sale of Lily O’Brien’s to Colian Holdings SA, a Polish food, beverage and confectionary company listed on the Warsaw Stock Exchange.

Value Creation Case Study

Doubled production capacity

  • Prior to CCI investment, the company was declining customer orders given plant capacity constraints
  • ~€1m invested in business post-transaction to double production capacity and remove this constraint

Increased UK market investment

  • Increased UK dedicated sales team from 1 to 5 individuals
  • Resulted in UK supermarket revenues doubling

Diversified products and channels

  • Broadened business beyond gifting
  • Web based revenues tripled and doubled own store revenues

Strengthened management team

  • Hired new production manager and head of sales
  • Melior team sourced former Head of International Sales for Kraft as a NED

Results

+40%

Revenue

+100%

EBITDA

+100%

UK Supermarket Sales

+65%

Cumulative Capital Expenditure

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