Godiva sells Asia-Pacific assets to private equity firm for over $1 billion
South Korean MBK will purchase the retail and distribution operations in Japan, South Korea, Australia and New Zealand
Turkish Yildiz Holding-owned Godiva Chocolatier has sold the assets in the Asia-Pacific region to South Korean private equity firm MBK Partners that will purchase the retail and distribution operations in Japan, South Korea, Australia and New Zealand,
This includes consumer packaged goods, digital commerce, travel retail (for Japan and South Korea) and more than 300 retail stores. These businesses generate about $360 million in annual sales, with over 90% reportedly coming from Japan.
Godiva, which has been part of Yildiz’s Pladis division since 2016, will continue to source its products from the Belgian facility, together with the production facility it owns in Pennsylvania and its affiliate facilities in Istanbul, Turkey.
EFA News - European Food Agency