Candyking said acquisition part of growth strategy

Candyking said acquisition part of growth strategy

Swedish confectionery supplier Candyking Holding has acquired local cookies and pastries producer Lilla Fiket for an undisclosed sum.

Lilla Fiket is a "new and exciting concept" offering cookings and pastries in pick & mix, Candyking said.

Frida Åkerblom, the CEO of Candyking's domestic business, said the acquisition was designed to broaden the group's appeal "as an even more attractive supplier to the grocery market".

Åkerblom said: "Lilla fits Candyking's concept strategy very well. We will focus on continuous growth by taking new areas in the stores that are profitable for both Candyking and the customer."

In June, Candyking announced Swedish entrepreneur Dani Evanoff was replacing Fredrik von Oelreich as CEO with immediate effect in an attempt to regain lost ground in the Nordic countries. Evanoff, who founded the confectionery company Godisprinsen (Candy Prince), which was acquired by Candyking in 2008. He worked for Candyking until 2013 and then launched a number of new FMCG concepts outside the business.

In 2015, Candyking saw its losses widen after losing contracts in Sweden and Norway. Candyking today reported its first-half losses had widened in the wake of falling sales following lost contracts in the group's domestic market.