In September 2001, CVC Asia Pacific Funds co-led the acquisition of Haitai Confectionery from the Haitai Group. Haitai Confectionery is the second largest manufacturer of confectionery, ice cream and frozen food products in South Korea, operating eight factories and employing around 3,900 staff.
Most of Haitai Confectionery’s products rank in the top three in terms of domestic market share. The business was established in October 1945, following the liberation of Korea from Japanese occupation during World War II. In 1959, after years of product development, Haitai Confectionery started manufacturing ‘Supermint’, Korea’s first gum. In the 1970s, the company started producing and selling ice cream with ‘Bravo Cone’. With the completion of the Chonan, Kwangju, and other large factories in the 1980s and 1990s, the company further strengthened its production capacity. Today, Haitai Confectionery is one of the best known consumer brands in South Korea.
In 2005, CVC Funds exited the company which was sold to Crown Confectionery.