M&As

Luker strengthens its presence in Europe with Lyra Group partnership

By Anthony Myers contact

- Last updated on GMT

Luker Chocolate has announced a major expansion into Europe. Pic: Luker
Luker Chocolate has announced a major expansion into Europe. Pic: Luker

Related tags: Luker Chocolate, Colombia, Sustainability, Cocoa

Colombian Chocolate Manufacturer Luker Chocolate has announced it has acquired a majority stake in Slovakian Lyra Group in a deal that will strengthen Luker’s product capabilities and increase flexibility in logistics for European clients.

The new partnership also enhances Luker’s supply chain, making it easier for European customers to source the company’s premium quality cocoa and product offerings. All of Luker Chocolate ingredient products will continue to be sourced and crafted at origin.

Lyra’s innovation in premium chocolate products will also expand Luker’s offer, with access to European market expertise and high-quality European ingredients.

The South American company said the partnership announcement also brings its opportunity to expand its export reach - growing from its existing 40-plus country base to include new high-growth markets including Asia and Eastern Europe.

Camilo Restrepo, CEO of Luker Chocolate, said: “Today’s partnership brings Lyra access to Luker’s knowledge of the cocoa supply chain - while Luker benefits from Lyra’s innovation capabilities and access to new geographies. Ultimately, it is a combination of quality, expertise and passion - built up over a decade of cooperation - that allows us to offer better experiences to more customers across the world​.”

Sustainable cocoa production

The deal also means that Lyra now has greater access to research on sustainable cocoa sourcing, whilst continuing its growth in the Slovakian and European premium chocolate sectors. It will benefit from Luker’s unique approach that sees farmers as an integral part of the value chain as it processes cocoa at origin.

Karol Styblo, Lyra’s CEO and founder says: “This move will enhance our research and understanding of ethical sourcing, whilst partnering with a business that we know is true to our core values, delivering premium products that are sourced to the highest sustainable standards.​”