Godiva to sell select assets to MBK Partners

MBK Partners will purchase the retail and distribution operations in four of GODIVA’s 100 plus markets: Japan, South Korea, Australia and the future rights to develop New Zealand.

GODIVA Chocolatier, owned by Yildiz Holding, has announced a transaction for the sale of select GODIVA assets to MBK Partners as part of a global strategy to grow the business fivefold. 

Under the terms of the transaction, MBK Partners will purchase the retail and distribution operations in four of GODIVA’s 100 plus markets: Japan, South Korea, Australia and the future rights to develop New Zealand. 

This includes Consumer Packaged Goods (CPG), digital-commerce, travel retail (for Japan and South Korea) and more than 300 retail stores.  The transaction also includes the GODIVA production facility in Brussels that supplies product to these markets.

All remaining 100 plus markets will continue to be owned and operated by GODIVA. The terms of the deal were not disclosed. The agreement executed has been approved by the Boards of Directors of both parties and the transaction is anticipated to close in mid-2019, subject to the customary closing conditions of completion of standard Belgium employee works council consultations and expiry of the relevant competition authority waiting period.