Dublin / IE. (mep) Leading Irish private equity firm, Melior Equity Partners, has agreed an investment in Rose Confectionery, a manufacturer and distributor of confectionery, freeze pops and savoury snacks, headquartered in Ireland with operations in the UK. Established in 1983, Rose employs 87 staff, with 33 in its manufacturing facility in Edenderry/Offaly, 27 in its distribution centre in Dublin and 27 in the UK.
Rose is Ireland’s leading manufacturer of mallow and wafer products at its 18,000 square feet facility in Edenderry. The business sells a broad product range including freeze pops, mallows and fruit + nuts which includes the Sun Exotics savoury snack range. Its freeze pops varieties include SLUSH PUPPiE, Vimto, Robinsons, Swizzels and Chupa Chups. Rose has built its business through a constant focus on new product innovation, its global product sourcing capabilities and its wide distribution network across Ireland and the UK covering most large retailers and convenience stores. The company has longstanding relationships, many established over 10 years with leading brands including Swizzels, Tango, SLUSH PUPPiE, Fruit Shoot and Vimto through long term licence arrangements.
Commenting on the announcement, Richard Kennedy, Group CEO and MD of Rose Confectionary, said, «Melior Equity Partners are the right team to help us achieve the next phase of our ambitious growth plans and we are delighted to have secured them as investors into our business. After more than 30 years in business and having grown very strongly over the last few years to reach €40 million in sales, we knew it was the right time to seek additional investment to help us continue that growth. It was very important for us to get the right partner with the right fit who would recognise and respect the company and leading brand we have created. We are very proud of our business, our culture and above all our staff for whom this is positive news, opening up exciting career development opportunities.»
Rose’ decision to partner with Melior was driven by the team’s track record in helping to grow similar Irish food and confectionery businesses including Lily O’Brien’s and Carroll Cuisine and its unique global network and Senior Advisor panel. The investment from Melior will support the future growth of the business, specifically expanding the Rose team, pursuing opportunities for international sales and facilitating further new category growth.
Welcoming the announcement, Steven Watt, MD of Rose Marketing UK, said, «We have made great strides in the UK over the last 15 years working with a set of leading brands and developing a position as the preeminent innovator in several categories including confectionery and freeze in particular. We have exciting plans for the future and our partnership with Melior will significantly strengthen our business growth strategy.»
Rose’s management team will remain unchanged, Richard Kennedy, Group CEO and MD of Rose Confectionery; Phelim Daly, MD of Rose Manufacturing and Steven Watt, MD of Rose Marketing UK will remain in their current leadership roles and continue as significant shareholders in the business.
Peter Garvey, co-founder of Melior and Jonathan Dalton, Managing Director of Melior, will join the board of the company as part of the transaction.
Jonathan Dalton, Managing Director of Melior Equity Partners, said, «We are excited to partner with Richard and his team who have grown Rose into a highly successful confectionery and freeze business with a unique set of license relationships, tremendous distribution channels and a wide client base comprising of supermarkets, discounters, convenience stores and wholesalers. Through its consistent focus on innovation, the business has been growing at over 20 percent a year and we believe that we can help the Rose team continue their impressive growth trajectory. Rose is making a significant investment in its manufacturing capabilities in Edenderry and we will invest to expand the portfolio of licences and product categories.»
Melior Equity Partners was founded in 2019 by Jonathan Cosgrave and Peter Garvey. Melior Equity Partners Fund II is backed by a pool of local and international blue-chip investors and invests capital in, and provides support to, businesses across Ireland to achieve their growth ambitions. Rose is the third investment from Melior Equity Partners Fund II following the completion of an investment during 2021 in BHP Insurance, a leading independent Irish insurance brokerage focusing on the not-for-profit sector and Salmon Software a financial software business in April 2022. Prior to establishing Melior Equity Partners, Cosgrave and Garvey led an Ireland-focused private equity fund for The Carlyle Group investing in companies such as AA Ireland, Carroll Cuisine, GSLS, Learning Pool, Lily O’Brien’s, McCauley Pharmacy, Payzone, Sports Surgery Clinic and The City Bin Co.
