Jelly bean maker enjoys sweet smell of success

The operators of a gourmet jelly bean maker last year enjoyed the sweet smell of success with profits more than doubling to €2.27m.

Earlier this year, Scandinavian confectionery firm Cloetta acquired Aran Candy, owner of the Jelly Bean Factory brand, for €15.5m in cash.

Aran Candy was established by father and son, Peter and Richard Cullen in 1998 after they identified an opportunity in the European market for an American-style high quality jelly bean.

The firm produces and sells gourmet jelly beans, with the company exporting more than 96% of its production to 55 export markets around the globe.

Producing 12 million jelly beans a day, the company has between 10 to 15 core customers in Ireland, including Avoca and Tesco, and a further 120 clients outside the country.

The firm’s pre-tax profits last year increased by 127% going from €1m to €2.27m.

The company’s owners last year shared a dividend of €500,000 prior to this year’s sale.

The firm employs a staff of 70 at its facility in Blanchardstown, Co Dublin, with staff costs last year totalling €2.39m

Gross profit increased by 21% going from €3.89m to €4.72m.

Administrative expenses reduced from €2.85m to €2.42m contributing to the sharp rise in pre-tax profits.

Accumulated profits at the end of December last stood at €4.5m with shareholder funds totalling €5.4m.


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