Nordic confectioner Cloetta Fazer has sealed its acquisition of Finnish functional gum maker Fennobon.
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Cloetta Fazer said the deal, which was first agreed in November, would give the company “expertise” in sugar-free products and would boost its presence in a fast-growing category. Financial details remained undisclosed.
Fennobon is Finland’s third-largest gum maker produces brands including XyliDent- and Mumin xylitol chewing gum. Some 40% of its business is made in export markets including Japan and the US.
When the deal was first announced, Cloetta Fazer CEO Jesper Åberg told just-food that Fennobon would give the company a chance to promote its own gum brand in Finland.
“We have represented Wrigley in Finland, which has given us quite a nice position but of course, over a long-term perspective, we want to develop our own brand.”
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By GlobalDataCloetta Fazer has been busy filling the gaps in its portfolio in recent months. In October, the company bought Karamellpojkarna, the third-largest supplier of throat pastilles in Sweden.
