World Confectionery Group has announced that it has proposed to acquire the shares and convertible bonds of Spanish confectionery company Natra for around €142 million.
The bid is subject to the approval by the antitrust authorities and shareholders of Natra.
World Confectionery Group is owned by the investment group, Investindustrial, which invests primarily in medium-sized companies in various sectors.
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Valencia-based Natra is one of the leading producers of chocolate and cocoa products in Europe. In 2017, it reported annual revenue of €372.5 million, and expects to end 2018 with higher sales volumes.
The company ended the first nine months of 2018 with a net profit of €10.4 million. It incurred a loss of €0.6 million in the same period in the previous year.
Natra specialises in chocolate products and cocoa derivatives for private-label and branded food companies.
It operates six production sites in Spain, Belgium, France, and Canada, and its main markets include Germany, France, Belgium, the Netherlands, Spain, and the UK.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
