The British premium chocolate brand Elizabeth Shaw has been sold to Polish confectionery producer and distributor Colian Holding SA.

According to Reuters, Colian bought 100 percent of Elizabeth Shaw Ltd. for $3.4 million from Norwegian fund Imagine Capital AS.

The deal also gives Colian control of Elizabeth Shaw’s subsidiary, Famous Names Ltd., reports ConfectioneryNews.

The acquisition was described by Colian president Jan Kolański as a significant move with long-term purpose, as it fits into the company's strategy to expand overseas.

Elizabeth Shaw will help Colian, which already produces waffles and cookies for the U.K. market, expand its presence. The brand has a loyal consumer base and is growing ahead of the premium chocolate market, says Elizabeth Shaw’s managing director Karen Crawford.

 “Colian is a strong believer in brands and has a wealth of experience in the confectionery market,” Crawford tells Confectionery News. “These strengths in combination with a well-respected quality English brand will ensure the long-term growth of Elizabeth Shaw.”

The brand also hopes to capitalize on Colian's plan for overseas growth for more export opportunities and on Colian's product development capabilities for new, innovative lines.

 “Taste and textural differentiation together with added value gifting presentation are becoming more and more important to our customers,” Crawford says in the Confectionery News article, “Continuous innovation is integral to maintaining and growing this consumer demand. We’re looking forward to elevating the brand to the next level within the premium chocolate category and working alongside Colian to achieve this.”