It has all the ingredients of a sweet comeback story: an eastern German chocolate brand with a long tradition; a successful initial public offering; and now a new investor.
Halloren, reputed to be Germany’s oldest chocolate factory, is making yet another critical move in its 200-year-old history to remain competitive.
Chairman Klaus Lellé, who has been at the helm of the company for 17 years and took it public in 2007, has joined forces with a new investor with the aim of more than doubling sales by 2018 to €300 million ($3.7 million).
Mr. Lellé told Handelsblatt that the new investor plans to own a quarter of Halloren’s shares, after acquiring 10 percent of its stock in December.
The investor officially trades as Charlie Investors, a newly founded entity based in Luxembourg that is largely unknown. Halloren has not disclosed the identities of Charlie’s principals to other shareholders.