Perwyn sells Mr Mallo to Versele family
Perwyn is pleased to announce that it has signed a binding agreement to sell Mr Mallo to the entrepreneurial family Carly Versele, together with the management team and Chris De Wolf. Perwyn bought Confiserie Van Damme (based in Wetteren, Belgium) from the founder Willy Van Damme in August 2015. Following add-on acquisitions of Marshmallow International (based in Alcoy, Spain) and Mellow Party (based in Sint-Gillis-Waas in Belgium), the business was re-branded to Mr Mallo reflecting its market leadership.
Following the retirement of Willy Van Damme at the time of investment, Perwyn recruited a new CEO and CFO ensuring the business was able to successfully grow from a founder led structure into a platform capable of integrating the two add-on acquisitions that were to come. The team also invested in the core systems and processes (e.g. ERP) ensuring Mr Mallo maintained market leading unit cost structure across its three efficient and flexible production sites.
The Group is now the largest European producer of marshmallows producing more than 14,500 tonnes of marshmallows annually across three production sites with a turnover exceeding 33 million euros in 2018 . The company is the “one-stop-shop” marshmallow supplier for its customers in 55 countries thanks to its unique and extensive range of flavours, shapes, recipes and coatings on marshmallows.
The signing took place on the 25th July and the parties expect that the acquisition can be completed before the end of August.