Premium liquorice maker Lakrids By Bülow is on course for another year of double-digit growth in 2026 after reporting a 19% jump in revenues to DKK449m (£51.8m) in 2025.
The Danish confectionery brand registered broad-based growth across all channels and geographies, while maintaining profitability levels despite considerable one-off costs and unprecedented increases in cocoa prices.
Its international expansion continued at pace last year, with 76% of sales now coming from markets outside Denmark. Lakrids said the performance in the UK – where the brand is sold in hundreds of outlets, as well as three of its own stores in London – also continued on a “strong upward trajectory” following an exceptional 2024.
The group added it was set for a robust 2026, with a clear path toward continued double-digit revenue growth and improved margins as cocoa prices normalised and it strengthened its international presence further.
Lakrids’ growth push follows the acquisition of the company by Chinese PE firm IDG Capital last year.
“Last year was a defining year for Lakrids By Bülow,” CEO Fredrik Nilsson said. “In 2025 we delivered strong double-digit growth across all channels and all regions, maintained profitability in the face of extraordinary global cost pressures, and continued to strengthen the foundations of our business.
“Despite unprecedented increases in the price of cocoa, we protected EBITDA and continued to invest in international expansion, digital development and product quality. Our retail stores performed exceptionally well, our online business now represents 35% of total sales, which is rare in the confectionery category, and our B2B channel grew strongly as we added several prestigious partners.”
He added: “Our ambition is clear: to become a truly global, high-end confectionery brand, proudly made in Denmark. With renewed energy and a robust financial foundation, the company has established a resilient foundation for 2026, positioning us to maintain double-digit revenue expansion and enhanced profitability.”
Net profit reached DKK56m (£6.5m) and EBITDA hit DKK39m (£4.5m), up slightly from DKK38m in 2024, as the business battled historically high cocoa prices and absorbed significant costs linked to the ownership transition.
Founded in 2007, Lakrids sells its range of chocolate-coated liquorice in its own stores across Europe and the United Arab Emirates, as well as an additional 2,000 retail partners across 35 countries.
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