SPAIN: Chocolate firm Natra enjoys bumper '08
Natra, the Spain-based chocolate maker, has booked a 17% jump in annual profits as the economic downturn boosted its sales.
The company, which specialises in own-label chocolate, posted a 17.4% rise in EBIT to EUR14.2m (US$17.9m) for 2008.
Sales climbed 32.5% to EUR303.1m. Excluding the contribution of Belgian chocolate firm All Crump, which was snapped up in the autumn of 2007, sales rose 19%, Natra said when it issued its 2008 accounts yesterday (2 March).
On Wednesday, Natra announced that it would take on Stollwerck, the European consumer chocolate business of Swiss group Barry Callebaut.
The deal, which is yet to be finalised, will see Callebaut take a minority stake in Natra.
The addition of Stollwerck to the Natra business will create a company with annual sales of around EUR850m on a pro forma basis. The combined businesses would have around 2% of the European cocoa and chocolate market and an pro forma output of 215,000 tonnes.
Under the deal, Callebaut also plans to supply a minimum of 85,000 tonnes of liquid chocolate to Natra per year.
A further stipulation of the deal would be that Natra reduces its stake in Spanish food ingredients business Natraceutical to below 50%.
New Covent Garden, the UK's largest chilled soup brand, announced a major push earlier this week with the launch of six varieties. The company, owned by Singapore Food Industries, hopes the move will ...
Carrefour, the world's second-largest food retailer, today (28 August) stuck to its forecast of an up to 18% fall in annual profits after seeing half-year earnings slump....
French retailer Groupe Casino has hailed a "resilient" first-half performance, despite a decline in net sales, operating profit and EBITDA....
Upmarket UK retailer Waitrose today (26 August) claimed to be the first supermarket in the country set to stock "100% own-label British dairy"....
The growth in private label market share gains is likely to slow, although consumers' loyalty shift from branded to private label lines is permanent, according to research....
Dairygold Food Ingredients UK is to invest GBP250,000 (US$410,000) at its Dan Dairies site in Leeds in a bid to increase production capacity....
After months of recession-fuelled growth on both sides of the pond, the future for own label has become a subject of fierce debate. This week, US retail giant Supervalu has called for more innovation ...
Upmarket UK retailer Waitrose has enjoyed the fastest sales growth among the country's largest retailers in the last 12 weeks, according to analysts TNS....
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- Why Reckitt Benckiser moved for Mead Johnson
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz pulls Unilever bid
- General Mills issues profit warning
- Kerry operating earnings strengthen on slow sales
- Kerry Group staff in Ireland suspend strike action