RUSSIA/FRANCE: Cocoa supplier ICC buys chocolate maker NetCacao
Russian cocoa processor Ivory Coast Cacao (ICC) has acquired French chocolate maker NetCacao, which has faced bankruptcy for the past six months.
ICC is a new player in the sector; it acquired a cocoa production facility in Cote d'Ivoire last year and started to sell and distribute cocoa to Russia, the EU and Africa.
"We wanted to secure the complete cycle from production of cocoa to the production of chocolate," ICC sales manager Alexander Nuzhniy said of the purchase of NetCacao.
From the NetCacao production plant in the French city of Marseille, ICC wants to serve the European and CIS countries.
NetCacao fell into receivership last summer and both ICC and investment group Socopag expressed interest in the business. At the end of January, the court of commerce in Marseille sanctioned a sale to ICC.
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