Chewing gum dynasty gets its teeth into biotech funding  

2003.05.23
Family owners of Dandy establish venture fund for investments primarily in biotech sector

The family owners of erstwhile Danish chewing gum group Dandy (now called Gumlink), which sold its well known Stimorol, V6 and Dirol brands to the UK confectionery giant Cadbury-Schweppes as part of a DKK 2.3 billion (USD 350 million) deal last year, have established a new venture fund for investments primarily in the biotechnology sector. According to the local south Jutland newspaper Vejle Amts Folkeblad the cash for the new fund, called "Bio-Bizz", comes from the family itself rather than from the sale to Cadbury-Schweppes.

 

The background to the establishment of Bio-Bizz is that the family has received several enquiries from companies seeking investors. Bio-Bizz has no actual investment plan as yet, but according to reports they are chewing on it. The original Dandy company is a household name in Denmark, having produced chewing gum since 1927. The news is reported by biotechdenmark.dk.

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