Despite earlier dismissing rumours of the possible sale of Chupa Chups, the Bernat family has agreed to sell the company to Dutch-Italian multinational Perfetti Van Melle for an undisclosed sum, the two groups revealed in a joint release. It has been estimated that the value of the transaction was around EUR400m (US$511.78m).

The two companies have had a close working relationship and previously cooperated in the promotion of their products in the German market.

The deal, which was brokered by Rothschild, sees the Chupa Chups lollypop and Smints mints brands handed over to Perfetti Van Melle.

Chups Chups head office will remain in Cataluña and operations will continue at all its Spanish production facilities, the companies said.