FINLAND/SWITZERLAND: Cloetta-Fazer sells trading arm to Valora holding
Finnish-Swedish confectioner Cloetta-Fazer has agreed to sell its trading business Handel to Switzerland's Valora Holding for SKr538m (US$50.65m), the groups disclosed today [Friday]. The chocolate and sugar confectionery company said its 2000 net sales came in at SKr2bn, while it employs 600 staff.
"The sale of the Handel trading business is part of a strategy to focus resources on core confectionery business operations," Cloetta-Fazer said in a statement. The deal is subject to approval by Finnish and Swedish competition authorities.
- Does Kraft Heinz want to swallow Unilever whole?
- US food next wave on display at Winter Fancy Food
- Focus: Nestle CEO plan to balance sales, earnings
- Comment: Meal kits in US - don't believe the hype
- Why Reckitt Benckiser moved for Mead Johnson
- Kraft Heinz pulls Unilever bid
- General Mills issues profit warning
- Kraft Heinz pursuing Unilever in takeover move
- Kerry operating earnings strengthen on slow sales
- Kerry Group staff in Ireland suspend strike action