DC Advisory acted as exclusive financial advisor to Glico on its acquisition of a strategic minority stake in Oro de Cacao

Background

• Ezaki Glico Co., Ltd. (Glico) is one of the leading manufacturers of confectionery in Japan. It is a well-known producer of ice cream, chilled desserts, beverages, processed foods, dairy products, and baby formula
• Headquartered in Osaka, Glico operates in 12 countries worldwide and is known for its confectionery products such as Pocky (Mikado) and Pretz
• Glico employs more than 5,000 people, the majority based in Japan
• ​Oro de Cacao (OdC) is a Switzerland-based, innovation-driven company specialized in the development and production of cacao-based products. Leveraging a novel, patented cold-extraction process, OdC serves both B2B and B2C markets with confectionery and nutrition products
  

Process

• DC Advisory was mandated as exclusive financial advisor to Glico on its acquisition of a significant minority stake in OdC and the establishment of a strategic partnership
• Leveraging its extensive and diverse experience in cross-border transactions, DC Advisory supported multiple workstreams, including the management of the transaction process, commercial evaluation, and provision of negotiation advice
• This transaction represents Glico’s first M&A deal in Europe and a meaningful investment in innovative cocoa technology

Outcome

• The transaction closed in April 2025
• The rationale for the transaction is to enable Glico to leverage OdC’s innovative production technologies and expand the premium chocolate market in Japan and internationally
• This transaction showcases DC Advisory’s expertise in cross-border transactions and its ability to deliver hands-on support, experienced teams, and local advice across Europe to Japanese corporations seeking to expand internationally