Italian coffee giant Illy is acquiring the UK chocolate maker Prestat as it seeks to expand its presence in the gourmet food sector, according to reports in Comunicaffe and Reuters.
Illy said that Prestat could partner with Domori, a premium chocolate giant acquired by the Italian firm in 2006.
Producing a range of predominantly gifting chocolate, with an emphasis on chocolate truffles, Prestat reported sales of £7 million ($9.3 million) last year and employs around 100 staff.
Commenting on the deal, Illy chairman Riccardo Illy said: “The deal is consistent with the DNA of the group, constantly looking for a proposal of the highest quality offer and reinforces the growth in the chocolate business in which the group is already present with Domori. The two companies complement each other perfectly and have a geographical presence in the main world markets, based on a passion for excellence in chocolate”.
Terms of the deal were not disclosed.
Source: Reuters / Comunicaffe / Prestat