Chocolate is not merely a product, it is a passion!

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1 MEDIA PACK VANPARYS

2 Chocolate is not merely a product, it is a passion! Founded in 1889 as a family business in the fashionable Sablon neighbourhood in the heart of Brussels, Vanparys has extended its expertise and range of dragées - sugar coated almonds and chocolates to include today a wide array of chocolate-covered gourmet delights coated nuts, fruits and coffee beans as well as seasonal confectioneries to accompany any celebration, any time of the year. A tradition of quality The recipe and preparation of its original dragées are still attentively followed with rich Belgian chocolate, or the finest selection of almonds coated with a thin layer of sugar, all carefully prepared in traditional, rotating copper vats. This is the Vanparys heritage, carried on through generations and present ever still Vanparys confections can be enjoyed worldwide. The brand is the market leader in Belgium and among the top five in Europe for the production of dragées and related chocolate-coated products. Vanparys wishes to become a major player in cake decoration with a newly developed product range." The quality of a Vanparys chocolate is firstly derived from the quality of the artisans who produce it. It takes years to progress through the company s confectionery process, mastering each step of candy-making before moving along to the next. Vanparys chocolates are then prepared with great care: the best selection of almonds from Sicily and California; flavourful dried fruits; and the finest chocolate blends chosen by its maîtrechocolatier. Vanparys manufactures to the highest standards in accordance with BRC and SAC (AFSCA), the leading safety and quality certification programmes. Its processes are routinely audited, ensuring that the company maintains good manufacturing practices, producing safe confections that meet the quality levels expected by its customers.

3 our history The Vanparys confectionery business was born in 1889, when Felix Vanparys founded a small enterprise in the heart of fashionable Brussels on Ernest Allard Street - specialising in the production of sugar-coated chocolates and almonds, otherwise known as dragées. Having achieved an impeccable manufacturing quality using the finest Belgian chocolate, Felix s business was a success from the very beginning. Dragées became an order of the day for the upper classes during the Belle Époque to imagine being served a cup of gourmet coffee at stylish restaurants such as Maxim s (Paris) and Lion d Or (Brussels) without having a dragée served alongside it. In 1922, Emile Vanparys (Felix s nephew) assumed the helm and relocated the growing production line to larger premises in Brussels. He improved the coating technique making the treats more accessible in price. Moreover, when almonds grew scarce due to a bad harvest across Europe, Emile decided to replace them with an almond-shaped nugget of chocolate. This new, wildly popular type of dragée was eventually copied by the competition and has since become more in demand across Europe than traditional almond ones. By 1935, Vanparys had grown to 80 employees, but over the next few years production faltered due to the Second World War. Progress resumed when the war ended. In 1945, Constant Vanparys took over the family business, and when its competitors had to stop producing dragées due to tough economic conditions, Vanparys recruited their highly qualified staff, gathering the most skilful chocolatiers on the market under one roof. During this time, Vanparys built a brand new 7,500 m 2 factory in Evere, in the outskirts of Brussels where it still remains today. Vibrant colours and continuous innovation led to Princess Grace of Monaco opting for Vanparys dragées for the christening of her daughter Princess Caroline of Monaco, in For this occasion, Vanparys created a distinctive yellow dragée. Subsequently, the company enlarged its range with 25 additional, fashionable colours. Since then, the participation of Vanparys at the largest confectionery fairs has never gone unnoticed. In 1958, Vanparys was awarded a gold medal for its sugar-coated chocolates at World Expo 58, and it won the 1st Blue Ribbon at Intersuc, classified as Hors Concours. In 1985, the company invented its highly popular silver pearls, and in 1989 it won a prize for most beautiful display at the prestigious Chobisco- Versubel Salon. A key moment in the modern history of Vanparys occurred in 1998, when Belgian confectioner and entrepreneur André De Greef, together with his two sons, assumed the helm of the company the first non-family members to do so. Under their stewardship, much of the factory, based in Evere, Brussels, was renovated ensuring that it met ever increasing contemporary production standards. This move also allowed the company to strengthen its market position and broaden its business horizons. In 2012, entrepreneur Thibaut van Hövell became the new owner and CEO of Vanparys. Having been active in a variety of industries, and well acquainted with the Vanparys brand and tradition, he is keen to see it reach new markets across the globe. His key priorities include further innovation and the maintenance of Vanparys high production quality by scrupulously following the preparation of authentic dragées. Additionally, he and his team are broadening the confectionery s product range to include gourmet chocolate-coated fruits, nuts and coffee beans, as well as fashionable cake decorations.

4 executive bio Baron Thibaut van Hövell tot Westerflier is Chief Executive Officer of Vanparys-Candihold SA, a member of the company's Board of Directors and the majority shareholder. He joined Vanparys in 2012, bringing more than 20 years of business leadership, entrepreneurship, and executive management experience to his role with the company. Thibaut van Hövell is also a member of the Board of Directors and shareholder of Lunch Garden Holding SA (the leading restaurant group in Belgium), La Varenne Group SA (the leading restaurant group in Luxembourg), Riba Holding NV (a regional rental company of equipment for the construction sector) and Deceuninck-Deforce NV (a national wholesaler of ironmongery and exclusive distributor for Stanley tools in Belgium) and Faderi Belgium NV (the leading façade insulation company in Belgium). Thibaut van Hövell oversees the corporate direction and strategy for Vanparys operations, including sales, marketing, product innovation and manufacturing. Says Mr. Van Hövell, "It's our job as a team to revive the 125 year old brand of Vanparys and make our divine chocolates available to consumers worldwide." Before joining Vanparys, Thibaut van Hövell actively managed his private equity business focusing on strategy, business development and cost management of his other portfolio companies. His focus on customers, innovation, improved operational efficiency, and execution led to significant value creation. During that period, he actively managed Lunch Garden as a Chief Executive Officer during four years. Prior to that, he spent 3 years at the London investment bank Dresdner Kleinwort Benson, where he realised major M&A transactions and equity financings of companies in various sectors and countries. Since joining Vanparys, Thibaut van Hövell modernised the brand, introduced consumer friendly packaging and developed new products. In particular, he extended the chocolate coated and cake decoration product ranges and made them suitable for the food retail channel. «Our strategy is to maintain our leadership in the confectionery market related to special life occasions, such as births, birthdays, christenings, communions and weddings, whilst strengthening the positioning of our premium bite size chocolate snacks (chocolate coated fruits, nuts, coffee beans, etc.) and original cake decoration (colourful sprinkles and sugar figurines) for wider consumption. We continuously strive to provide consumers with a superior experience by using high quality ingredients, refined finishings and a wide range of colours. We develop tailored packaging for gifting, sharing with family or friends and personal consumption at any occasion.»

5 dragées Origin & manufacturing The origin of the dragée is not definitively known. According to many sources, it is named after Julius Dragatus, a roman confectioner who is said to have created the first dragée when he accidently let an almond fall into a pot of honey! WHAT IS A DRAGÉE during the rest of the production process. A dragée consists of two elements: a core and a sugar coating. The sugar coating: This shell is always smooth and compact. It may or may not be coloured and/or flavoured. The core: The core, or heart, may consist of a range of different products. The most common are dried fruits (e.g. strawberries, raspberries and apricots), nuts (e.g. almonds, hazelnuts or pistachio) and chocolate. Next, a sugar solution is poured over the previously dried and gummed core. The solution is evenly distributed over the entire dragée thanks to the rotating movement of the copper vat in which this encapsulating is done. The duration of this phase determines the thickness of the sugar layer to be applied to each dragée. The dragées are next placed into another vat where they are coated with a small amount of coloured and/or flavoured sugar syrup. And then are left to dry. HOW ARE CHOCOLATE DRAGÉES MADE? Chocolate is melted and poured into small almond-shaped moulds to form a delicious core. The core is coated with a layer of sugar and Arabic gum, forming an impenetrable shell that prevents the infiltration of moisture and protects the core from deforming or melting Next, the dragées are put into a final vat to lay the final coating, which determines their texture: matte, glossy or pearlescent. Luxurious silver-leaf coated dragées are created in rotating crystal vats with beads of pearls to help polish the edges. Finished dragées are laid out and examined one at a time in order to remove any dragées containing defects such as differences in size, thickness of the sugar coat, uneven colouring, etc.

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