Spanish chocolate producer, Chocolates Valor, has announced the acquisition of Portuguese firm Imperial Produtos Alimentares, the major chocolate manufacturer of Portugal.
Imperial, owner of brands such as Regina, Pantagruel, Jubileu and Pintarolas, was part of the venture capital fund Vallis Sustainable Investments I, but within a few weeks it will become part of the leading group in Spain Chocolates Valor, which invoices around €138 million, has two industrial facilities and exports to more than 60 countries, according to sources.
Pedro López, executive president of Chocolates Valor said: “The acquisition of Imperial fulfills the dream we have had for a long time. It is a very pondered decision and it comes now that we have found a company that complements us. Our roadmap includes both the organic and inorganic growth of the company, therefore we have analysed numerous proposals to find the perfect travel companion for us”.
Chocolates Valor intends to stimulate the business development of both companies, within and outside their natural borders, strengthening and enhancing their brands and maximizing the synergies of two specialist companies.
The transaction’s value has not been disclosed.