News in brief

Candyking seeks new CEO after bond listing

Candyking CEO to depart after initial public offering withdrawn

Swedish pick & Mix confectioner Candyking has issued a bond to secure investment for growth, but its CEO has decided to leave the firm after it failed to become a public company.

The company pulled the plug on its $76.2m initial public share offering following fires at two of its suppliers in December last year.

This week it successfully issued a four-year SEK 750 million ($116.5m) bond as a compromise to finance its growth plans, but will remain a private company.

Company CEO David von Laskowski said that he was pleased the firm had secured long-term financing, but announced that he would quit his role.

“Since Candyking will continue to operate in a private environment, I have decided to leave the company,” he said.

Jan Ohlsson, Chairman of Candyking’s Board of Directors said: “Through the issuance of the bond, Candyking achieves a more efficient and flexible capital structure and secures financing for continued growth.

“The transaction empowers the company to enhance its position as the clear market leader in the pick & mix confectionery and natural snacks industry.”

Von Laskowski will remain as CEO until a replacement is found.

Related News

Candyking withdraws in Slovakia, Hungary and the Czech Republic after botched public offering

Candyking withdraws in ‘unprofitable’ Central European markets

Private equity firm sells remaining shares in latest financing development for Swedish Pick & Mix firm Candyking.

Post-fire transactions: Candyking equity firm sells remaining shares

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