Qatar’s royal family acquired most of founder Jean Galler’s shares in his own chocolate company. In the long run, it will obtain all shares.
Qatar acquired a stake in 2006, but that was below the 50 % threshold, something that now changes. According to De Tijd, Qatar now as a “substantial majority”. Founder Jean Galler maintains a symbolic stake and will stay on board as its creative director. Joao De Gouveia, advisor to the royal family, will become the new CEO. In the long term, the Qatari will obtain 100 % of shares.
Galler managed a 35 million euro turnover last year and targets 40 million euro for this year. It achieves strong Asian growth and will open a first store in China soon. The chocolate company also has stores in Belgium, Luxembourg, Lebanon, Japan, France and Qatar.