Chocolatier Godiva to sell Asian-Pacific operations to MBK Partners.

Godiva Chocolatier, the Belgian manufacturer of gourmet chocolates, agreed to sell parts of its Asia-Pacific business to private equity firm MBK Partners. The deal includes Godiva’s operations in Japan, South Korea and Australia, and the production facility in Belgium supplying these regions. Financial terms were not disclosed, but the transaction is rumoured to be worth between $1-1.5bn. Annie Young-Scrivner, CEO of GODIVA Chocolatier said, “We believe this deal is a win-win for everyone. It gives us the financial flexibility we need to execute our 5x growth strategy by accelerating efforts in new and existing markets and supporting the plan of opening of more than 2,000 cafes globally while preserving our Belgian legacy, quality, and craftmanship that have helped to make our brand iconic.”