Lily O’Brien’s Chocolates

Lily O’Brien’s is one of Ireland’s leading chocolate manufacturers, boasting approximately a 20% share of the Irish premium chocolate confectionery category during key confectionery periods.

Founded in 1992 in the Kildare kitchen of Mary Ann O’Brien, the company was named after Mary Ann’s eldest daughter, Lily, and since then has grown into a truly global brand with an international reputation for product excellence, innovation and style-driven packaging design.

Lily O’Brien’s exports to nine markets worldwide and these exports account for approximately 75% of the company’s annual turnover.

When CCI invested in Lily O’Brien’s in 2014 I had grown the business from an idea at my kitchen table to a €20m revenue company. We had offers from several international trade parties but we felt that there was still more for us to achieve as an independent Irish owned business. Immediately upon agreeing the deal, CCI invested €1m in our facility in Newbridge, effectively doubling production capacity. This gave us the springboard to really go after the UK market. Their advice and contacts were transformative in unlocking access to the UK supermarkets, which allowed us to take our brand to the next level.

From the beginning we were fully aligned regarding our business plan and working towards an exit event. When the time came to sell the business, CCI’s experience was vital when it came to timing and choosing the correct counter-party to make sure we could deliver the best outcome for both the exiting shareholders and the future of the business.

I had such a positive experience working with Cardinal at Lily’s that I invested personally in Cardinal Fund II. I was also delighted to accept an invitation to join the Cardinal Advisory Board, where I can use my experience to provide assistance and insight to the Cardinal team as they originate new investments.