Katjes, a German confectionery firm, has signed an agreement to acquire the Italian business of Swedish sweetmaker Cloetta for 450 million SEK ($53.4 million).
Cloetta Italy employs 400 people across its four facilities in Italy and in 2016 had annual sales of 745 million SEK ($879 million).
“This is a very good solution for all parties and follows Cloetta’s strategy to focus more on its business in North-Western Europe including the recently acquired Candyking business,” said Cloetta CEO Henri de Sauvage-Nolting.
“As the fourth largest market in Western Europe, Italy was always the focus of our efforts to expand our strong market position,” commented Tobias Bachmüller, Katjes International managing partner.
Source: Foodbev / Confectionery News