Danish premium confectionery brand Lakrids By Bülow is set to accelerate its expansion in the UK and other international markets after being acquired by Chinese PE firm IDG Capital.
The business said the deal marked a significant milestone in its evolution from a local artisanal liquorice brand into a globally recognised premium confectionery player.
Beijing-headquartered IDG’s investment – made in partnership with the brand’s management – will help support the continued international growth for Lakrids across Europe, Asia and the US.
Founded in 2007, Lakrids sells its range of chocolate-coated liquorice in its own stores in the UK – where it runs three sites in London – Denmark, Germany, Sweden, Norway, Finland, Austria and the United Arab Emirates, as well as an additional 2,000 retailers across 35 countries.
It has been backed by Nordic buyout fund Valedo since 2016 following an investment made alongside founder and CEO Johan Bülow, as well as the members of the management team.
Revenues in the B Corp business reached DKK376m (£43.5m) in 2024, a threefold increase under Valedo’s ownership.
“We are immensely proud to welcome IDG Capital as a new partner,” said Lakrids CEO Fredrik Nilsson. “Their global reach enables us to accelerate our expansion, and I’m excited to unlock the next chapter of growth alongside our new owners.
“In the first half of 2025, we delivered strong growth of 20% year over year, with double-digit growth across all channels and especially strong performance in DACH [Germany, Austria, and Switzerland], UK and the US. Looking ahead, we will continue to grow through our dynamic multi-channel model with B2B, e-commerce and own retail stores.”
Johan Bülow, who is now creative director at the business, added: “With IDG Capital as a new majority owner, Lakrids By Bülow is one step closer to making the world love liquorice.
“Valedo has been a solid partner in creating a strong position in northern Europe. Now an exciting international growth journey will be fuelled further. Lakrids will be able to benefit massively from IDG’s international experience and consumer know-how.”
IDG partner Alexandre Quirici said: “Lakrids is an innovative confectionery brand, renowned for its quality craftmanship, its unique flavours and its distinctive packaging. We are delighted to be part of this new chapter for the brand and to introduce these exceptional products to consumers worldwide.”
The terms and conditions of the transactions are undisclosed, with the deal expected to complete in autumn, subject to customary regulatory approvals.
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