Sunday, May 21, 2017

Carlyle to Lick Fingers on Lily O'Brien

While retailers implode across the globe The Carlyle Group is ready to monetize its investment in specialty chocolate maker Lily O'Brien's.  Irish Times reported:

The Post also reports that chocolate company Lily O’Brien’s is up for sale for €50 million. It says the business, which is majority owned by US-Irish joint venture Carlyle Cardinal Ireland, has hired IBI Corporate Finance to find a buyer. 
The Carlyle Group purchased a majority stake in Lily O'Brien's in January 2014.  BusinessIrish reported in December 2015.

A joint venture between US private equity group Carlyle and Dublin-based Cardinal Capital, Carlyle Cardinal Ireland, acquired a majority stake in Lily O'Brien's (around 80pc) last year for a rumoured €15m.

Asked what an expanded company would be like in five years, Mr Donnelly said he would like to see the business heading towards the "magic number" of €50m
Might Carlyle work their magic and get €50m sooner than planned?

Aside:  Carlyle had $185 billion in assets under management when it invested in Lily O'Brien's.  At last report AUM stood at $162 billion.