Danish gourmet licorice company Lakrids by Bülow has been sold to the international investment firm IDG Capital in a strategic move aimed at accelerating global expansion. The acquisition marks the end of Swedish fund Valedo’s majority ownership, which began in 2016.
Ownership transfers to international investor
Lakrids by Bülow, the renowned Danish premium licorice brand, has officially changed hands. Its majority stake has been sold to the global investment firm IDG Capital. The announcement, made through a joint statement by both parties, marks a significant shift in the company’s ownership and future direction.
The company was founded in 2007 by Danish entrepreneur Johan Bülow, who remains with the business as its creative director. Since 2016, 75% of the shares have been owned by the Swedish private equity fund Valedo. With Valedo stepping out, IDG Capital now becomes the new majority stakeholder, bringing a more global perspective to the brand’s strategy.
Paving the way for international growth
The acquisition is viewed as a launching pad for wider international expansion. IDG Capital brings extensive experience in consumer goods and brand development across global markets, particularly in Asia and North America. The Danish company aims to leverage this network and expertise to strengthen its presence beyond Northern Europe.
The licorice brand has already seen strong growth in the Nordic region and neighboring countries. With new ownership, the brand hopes to expand into high-potential markets such as the United States, Germany, and China, where interest in premium food products is growing steadily.
In 2023, Lakrids by Bülow reported revenue above 250 million Danish kroner (approximately $36 million), a figure that has been steadily climbing thanks to increased exports and an expanding product line. The company employs over 200 people and operates a production facility and headquarters in Hvidovre, near Copenhagen.
Product innovation and brand identity
Lakrids by Bülow is known for its distinctive approach to licorice, a product deeply rooted in Scandinavian culture. Unlike traditional mass-market licorice, Bülow’s licorice is crafted as a luxury item. The brand combines bold flavor innovations with high-end packaging, offering varieties such as licorice coated in gourmet chocolate, fruit, or salty finishes.
The company’s products have built a cult following in Denmark and several international markets. Its seasonal releases and limited-edition flavors have routinely generated buzz, helping to reinforce its premium image.
With the new backing by IDG Capital, further product development is expected, possibly including local adaptations for markets less familiar with traditional Scandinavian licorice.
Strategic shift for the future
The move from a regional equity fund to a truly global investor signals a shift in long-term strategy. While Valedo was instrumental in developing Lakrids by Bülow’s operations in Northern and Western Europe, the partnership with IDG Capital is expected to provide access to a broader consumer base and more comprehensive market intelligence.
The full terms of the transaction have not yet been disclosed, and the financial closure is scheduled to be completed in the coming months, likely by autumn 2025. Regulatory approvals and operational integration are currently underway.
About IDG Capital
Founded in the 1990s and headquartered in Beijing, IDG Capital is an international investment firm with more than $30 billion under management. The firm has invested in over 1,000 companies globally, including notable names like Xiaomi, Baidu, and Moncler. Its strategic focus lies in technology, consumer products, healthcare, and advanced manufacturing.
The acquisition of Lakrids by Bülow aligns with IDG Capital’s ambition to support high-potential European consumer brands capable of winning international market share.
A new chapter for Danish premium licorice
For its founder Johan Bülow, the sale is not just a financial milestone but also a strategic leap toward realizing the brand’s vision of becoming a globally recognized luxury food label. With fresh capital and a wider international network, Lakrids by Bülow is poised to introduce the uniquely Danish taste of licorice to a broader global audience.
As consumer interest in artisanal and premium sweets continues to rise, the Danish licorice-maker is well-positioned for a new era of growth—propelled by both past innovation and future ambition.
