Lakrids by Bülow posts strong growth under IDG Capital’s ownership

Danish-founded confectionery group, Lakrids by Bülow has reported an improved annual results, with its 2025 performance reporting revenues of €60 million, up 19% over the prior year, writes Neill Barston.

As the specialist liquorice business observed, it has attained a broad base of improved results across the board, including opening new stores in a number of locations including in Germany and Austria, as well as online sales growing by a quarter to account for 35% of its sales in total.

Significantly, the company has forged a new level of expansion since its acquisition last year by IDG Capital, a US-founded group, which has several decades of trading experience, and now has its headquarters in Hong Kong, and will enable its next phase of development.

Moreover, as Lakrids noted, its international expansion continued at pace, with 76% of sales now coming from markets outside Denmark, reaffirming its place in global consumers’ affections.

Fredrik Nilsson, CEO of Lakrids, welcomed the improved position, which he believed had underlined its clear plans for expanding its presence in a wide array of territories.

He said: “2025 was a defining year for our company. We delivered strong double-digit growth across all channels and all regions, maintained profitability in the face of extraordinary global cost pressures, and continued to strengthen the foundations of our business. I am incredibly proud of how our teams across markets performed, and how our global community – particularly our community taste panel Lakrids Lovers – helped drive both engagement and growth throughout the year,

“Despite unprecedented increases in the price of cocoa – our single most important ingredient – we protected EBITDA and continued to invest in
international expansion, digital development and product quality. Our retail stores performed exceptionally well, our online business now represents 35% of total sales, which is rare in the confectionery category, and our B2B channel grew strongly as we added several prestigious partners.”

The CEO added that the firm’s growth was backed by the creation of new
a new internationally experienced board together with IDG Capital, which was founded in Boston and today operates across key global markets.

Its members consist of individuals with experience working across major players including Tiffany, Mars, and Starbucks, which has helped drive its progress, against a global backdrop of market uncertainties.