Melior takes a piece of sweet company Rose Confectionery

Rose sought investment from Melior due to the firm’s work with businesses such as Lily O’Brien’s and Carroll Cuisine

Peter Garvey, co-founder of Melior Equity Partners, and Richard Kennedy, Group CEO and MD of Rose Confectionery. Picture: Naoise Culhane

The owners of Rose Confectionery have sold a majority share of the sweet manufacturer to a private equity firm in the hopes of growing sales to over €40m.

The large piece of the company is understood to have been bought by Dublin-based Melior Equity Partners for between €10m and €30m.

“After more than 30 years in business and having grown very strongly over the last few years to reach €40m in sales, we knew it was the right time to seek additional investment to help us continue that growth,” said Richard Kennedy, Group CEO and MD of Rose Confectionery.

Mr Kennedy and other MDs of the company, Phelim Daly and Steven Watt, will remain in their current jobs and keep significant shares in the business as part of the deal.

Peter Garvey, co-founder of Melior and Jonathan Dalton, MD of Melior, will join the company's board as part of the agreement.

Rose Confectionery was established in 1983. The mallow and lollipop maker employs 87 staff, with 33 in its manufacturing facility in Edenderry, Offaly, while 27 have jobs in its distribution centre in Dublin. The remaining 27 are working in the UK.

The company’s decision to seek investment from Melior was due to the private equity firm’s previous investments in other food businesses, including Lily O’Brien’s and Carroll Cuisine, which helped them grow.