Polish food producer Colian Holding has completed a €40 million debt-free acquisition of Kildare-based chocolate and dessert company Lily O'Brien's.
The Irish Times reports that in the wake of the acquisition, Lily O'Brien's will continue to be run by its current Irish management team, which is headed by chief executive Eoin Donnelly, and Mary Ann O'Brien will maintain her position as a director and consultant to the company.
Lily O'Brien's was originally established by Mary Ann O'Brien in 1992 and currently employs 120 people at its headquarters in the Co. Kildare town of Newbridge.
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Colian Holding issued a statement today (Thursday January 4) asserting, "Colian's vision is to continue the growth trajectory of Lily O'Brien's as a premium chocolate and dessert brand through further investment in production, sales and marketing, and innovation."