Sweden: Cloetta to sell Nutisal roasted nuts brand

Cloetta, a leading northern European confectionery company, has announced a binding agreement to sell its Nutisal roasted nuts brand to Monchy Food, a Dutch producer and distributor of nuts, seeds and dried fruits, as part of its strategy to focus on its core confectionery portfolio.

“The divestment is part of Cloetta’s previously communicated plan to continue streamlining the brand and product portfolio to reduce complexity to support the long-term goal of an adjusted EBIT margin of at least 14 per cent”, the company said in a statement.

The brand is said to comprise half of Cloetta’s nuts division, which will continue via the pick and mix seg.

According to a company spokesperson, the transaction is worth around €5-6 million ($5.4-6.4 million) and will not involve direct job losses as in 2020 Cloetta had outsourced manufacturing to a third party.

Source: Cloetta