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Candyking CEO to snap up the Nordic pick & mix supplier

By Oliver Nieburg+

Last updated on 30-Nov-2016 at 11:44 GMT2016-11-30T11:44:57Z

Candyking CEO to acquire the firm from investment fund. Photo: Candyking
Candyking CEO to acquire the firm from investment fund. Photo: Candyking

The CEO of Nordic pick & mix supplier Candyking will take ownership of the company from investment fund Accent Equity 2008.

Dani Evannoff became CEO of Candyking earlier this year , having joined the company’s group management team in 2008 when his own company Godisprinsen was acquired by Candyking.

He will purchase Candyking from Accent Equity by creating a new legal entity.

Candyking said in a release that the deal will be dependent on approval a bond loan for Candyking, which is expected by the end of January 2017.

Rebuilding after dropped public offering

In 2014, Candyking lost out  to Cloetta as Coop Sverige’s pick & mix supplier when the retailer refused to renew an earlier contract.

Candyking also pulled the plug on a $76.2m initial public share offering in the same year following fires at two of Candyking’s suppliers.

The company successfully issued a four-year SEK 750 million ($116.5m) bond  as a compromise to finance its growth plans, but remained a private company.

Candyking was established in 1984. It supplies pick & mix confectionery to around 8,000 retail outlets in the Nordic region, Poland and the UK & Ireland.

It also supplies natural snacks pick & mix in Sweden and Finland through its Parrot’s brand.

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