The well-known chocolate brand, Lily O’Briens, has been sold to American private equity firm, the Carlyle Group.
Mary-Ann O’Brien founded the company in 1992. The Arrow Group became significant investors in the business, helping bring the premium chocolate around the world.
The Arrow Group, with turnover in excess of €443m and based in Waterford, is privately owned by the Queally brothers who own Dawn Meats.
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The Queally family members also directly owned stakes in the chocolate business via a vehicle called Kilcone Investments.
Accounts for Lily O’Briens show that the company had sales of €18.7m in 2012, up from €13.4m the year previous. The revenue increase of 40% was mainly due to the strengthened export market to the US, Britain and Australia.
The company made a €1.5m operating profit in 2012, up from €0.3m a year earlier.
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The well-known chocolate brand, Lily O’Briens, has been sold to American private equity firm, the Carlyle Group.
Mary-Ann O’Brien founded the company in 1992. The Arrow Group became significant investors in the business, helping bring the premium chocolate around the world.
The Arrow Group, with turnover in excess of €443m and based in Waterford, is privately owned by the Queally brothers who own Dawn Meats.
The Queally family members also directly owned stakes in the chocolate business via a vehicle called Kilcone Investments.
Accounts for Lily O’Briens show that the company had sales of €18.7m in 2012, up from €13.4m the year previous. The revenue increase of 40% was mainly due to the strengthened export market to the US, Britain and Australia.
The company made a €1.5m operating profit in 2012, up from €0.3m a year earlier.
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