Sweet deal for Northern Irish choco innovator
Choc-O-Bloc, the Northern Irish company which created and manufacturers the award winning Magic Choc range, has been bought by a new business formed by the original founders, Stephen and Karen Lennie, and funded by private investors from the Rust Group.
The successful family run business, which is based in Newtownards in county Down, experienced some difficulties when its distributor in England ran into severe financial difficulties.
Choco-O-Bloc was rescued out of administration by a new group of investors keen to capitalise on growing interest in the innovative and unique range of children's chocolate craft products, including the successful Chocolate Picture Maker.
Choc-O-Bloc has since entered negotiations with re:creation limited with a view to signing a new worldwide distribution agreement to meet the market demands from existing and potential customers which currently include Tesco and Toys R Us in the UK.
The company has also supplied products connected to the most successful cartoon series on Chinese television.
Original founder Stephen Lennie says: "I am delighted that my family business has been given a new lease of life and I am really looking forward to the next exciting phase of growth for Magic Choc."
Michael Lehrter, chief executive of re:creation limited, and on behalf of The Rust Group, adds: "We are really excited to be partnering with Choc-O-Bloc on this exciting new venture.
"The Magic Choc range is hugely innovative and successfully brings together everything that children love: chocolate, creativity and fun. We look forward to negotiating a new worldwide distribution in the coming days and helping to build Magic Choc into a worldwide brand."
Choc-O-Bloc was advised throughout by Rust Group L.P. which had previously led the financial restructure of re:creation group plc.
The Northern Irish company has successfully transformed the confectionery industry by developing the world's first edible chocolate toy range.