Candyking gets new owner

Candyking, a leading concept supplier of pick and mix candy in the Nordics, the United Kingdom, Ireland and Poland, gets a new owner. Cloetta acquires the shares in Candyking from the current owner and group CEO, Dani Evanoff, as well as Candyking’s outstanding bonds.

-          Shortly after my acquisition of Candyking, after a thorough dialogue with the creditors of the Company, the conclusion was that we needed to find a strong and long-term owner to the company. With this insight, dialogues with several potential purchasers on the market were initiated and Cloetta was deemed to be the best candidate in this process. A professional player with a strong interest for pick and mix confectionary and a strong focus on further developing its concept business within its group.

I am convinced that Candyking will create added value for Cloetta, customers and our Nordic suppliers who during all years have supported Candyking for better or worse. Personally, I feel proud and relived to through this transaction perpetuate Karamellkungen which was founded in 1984 by Christer Forsman, says Dani Evanoff.

The transaction is carried out on the basis of the discussions that have taken place between Candyking Holding AB (publ) (the “Company” or “Candyking”) and holders of the Company’s outstanding bond-loan in a nominal amount of MSEK 750 (the “Bonds”) regarding Candyking’s long-term financing (please refer to the press release on 13 January 2017 regarding the divestment of Candyking from Accent to Dani Evanoff).

The agreement in relation to the acquisition has been entered into between a wholly owned subsidiary of Cloetta AB (publ) (“Cloetta”), a group of bondholders (together representing a qualified majority of more than 2/3 of the Bonds) and Dani Evanoff through his wholly owned company. Cloetta acquires, inter alia, all shares in Candyking and the Company’s mezzanine loan from Dani Evanoff as well as all outstanding Bonds from the bondholders.  

The initial purchase price amounts to MSEK 325 on a cash and debt free basis and will be payable in connection with closing of the transaction. The purchase price after adjustments for cash and debt is estimated to approximately MSEK 307 in the agreement and will be finally determined in connection with closing. Based upon Cloetta’s and Candyking’s combined sales volume of pick and mix in confectionary and natural snacks in the Nordics, the United Kingdom and Poland during 2018, an additional purchase price of maximum SEK 225 million may become payable. The major part of the purchase price will be allocated to the bondholders.

In connection with closing, Cloetta will issue an instrument relating to the right to the potential additional purchase price, which will be issued to the current bondholders in exchange for the existing Bonds (a so called “Mandatory Exchange” in accordance with the terms and conditions for the Bonds). Thereafter, the Bonds will be de-listed from Nasdaq Stockholm. The new instrument will be registered with Euroclear in order to facilitate the payment of the potential additional purchase price to the bondholders.

Resolutions to approve the transaction, the exchange of instruments and other resolutions necessary in connection therewith will be resolved upon at a bondholders’ meeting which will be called upon shortly in accordance with the terms and conditions for the Bonds. Bondholders together representing a qualified majority of more than 2/3 of the Bonds have undertaken towards Cloetta to vote in favour of such resolutions. More information in relation to the transaction that may be of importance to the bondholders will be included in the notice.

The transaction in subject to approval from the Swedish Competition Authority and approval of the bondholders at a bondholders’ meeting.

Gernandt & Danielsson Advokatbyrå KB and Baker McKenzie are advisors to the bondholders, the Company and Dani Evanoff in connection with the transaction.

In case of questions, please contact:

Dani Evanoff +46 73-503 97 97

About this information

Candyking Holding AB (publ) publishes this information in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13.30 CET on 17 February 2017.  

About Candyking

Candyking was founded in 1984 and is a leading concept supplier of pick and mix candy in the Nordic countries, the United Kingdom, Ireland and Poland. Today, Candyking has more than 8,000 points of sale and offer stores an integrated concept which includes products, displays and accompanying store and logistic services. Candyking’s trademarks in confectionary are Candyking, Karamellkungen and Candyking Favourites. The company is also a leading pick and mix supplier within natural snacks in Sweden and Finland under the Parrot brand. More information is available at


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