Houlihan Lokey Advises Gubor Schokoladen
Houlihan Lokey is pleased to announce that Gubor Schokoladen (Gubor), a leading manufacturer of seasonal and all-year confectionery products, has entered into a partnership with the food and beverage manufacturer Colian Holding (Colian). The transaction closed in April 2025.
Gubor, based in Dettingen unter Teck, is a leading German confectionery producer known for its seasonal and year-round chocolate products, including hollow figures, puffed rice, dragées, and jellies sold under brands like Gubor, Riegelein, Sun Rice, Friedel, and Eichetti. With six production sites (five in Germany, one in Poland), 1,700 employees, and exports to around 50 countries, Gubor serves as a trusted private label partner for retailers.
Colian, based in Opatówek, Poland, is a family-owned food and confectionery player known for its innovative chocolates, sweets, beverages, spices, and ice cream. Its brand portfolio includes Goplana, Jeżyki, Elizabeth Shaw, Lily O’Brien’s, and Oranżada Hellena, with products sold in more than 70 countries. Colian operates six factories (five in Poland, one in Ireland) and employs more than 2,500 people.
The merger will unlock synergies in key areas such as production, logistics, procurement, and innovation, enabling both family-owned companies to enhance efficiency, scale operations, and drive sustainable growth across existing and new markets. With shared values and closely aligned corporate cultures, Colian and Gubor are well-positioned to collaborate effectively and build a stronger, more competitive organisation. The combined group will offer an expanded product portfolio and greater agility in responding to evolving consumer and industry demands, reinforcing its position as a dominant player in the international confectionery market.
The partnership forms an organisation with 12 production sites in three countries (Poland, Germany, and Ireland), approximately 4,200 employees, and the capacity to produce approximately 85,000 tonnes of confectionery and 140 million litres of beverages annually.
“Colian and Gubor are united not only by their passion for crafting high-quality confectionery but also by shared values and a similar business philosophy,” comments Jan Kolański, Chairman of the Management Board of Colian. “Our experience in building renowned brands and our innovative approach to production complement each other perfectly. Together, we can achieve even more—the synergy of our capabilities will allow us to respond more effectively to market trends and consumer needs.”
Claus Cersovsky, CEO of Gubor, explains, “By merging two strong companies from their respective product areas, we are combining our strengths and offering our customers access to a broader, more diverse product range from a single source. Moreover, as globalisation in trade and industry continues, greater innovative power and higher production volumes are becoming increasingly important. With our new structure, we are well prepared for the challenges of a globalised world.”
Houlihan Lokey acted as the exclusive sellside advisor to Gubor and the Cersovsky and Riegelein families on the partnership with Colian and assisted in marketing, structuring, and negotiating the transaction. This transaction highlights Houlihan Lokey’s expertise in the food and beverage space and showcases our ability to generate successful outcomes for our clients, even in volatile and turbulent cocoa markets.
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