A European holding company for Ferrara Candy Company has finalised the purchase of French sweets maker CPK Group from investment firm Eurazeo.
In a statement, Eurazeo said the deal has “generated around €240m ($276.4m) of proceeds allocated” to its balance sheet.
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In July, Ferrara and Eurazeo announced the two sides were in exclusive talks over a possible deal.
The transaction gives Ferrara brands including Carambar, Poulain, Lutti and Terry’s.
Eurazeo said the sale “reaffirms its strategy of supporting ambitious and responsible transformations, while creating significant value for its clients and shareholders”.
CPK was created in 2017 following Eurazeo’s purchase of 14 brands from Mondelez International and went on to acquire French confectioner Lamy Lutti the following year.
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By GlobalDataIn a post on LinkedIn, Ferrara CEO Marco Capurso said: “The heritage and timeless appeal of these [CPK’s] brands has earned generations of loyal consumers in France and beyond. Our new colleagues share our passion for quality, building beloved brands and delighting consumers.”
More than 850 CPK employees and four factories in France will be transferred to Ferrara. The sites are in Bondues, Saint-Genest, Strasbourg and Vichy.
Under the new ownership, CPK will continue to have its headquarters in France, according to the statement.
It will be overseen by Ferrara and led by current CEO Marc Auclair and his senior team.
Ferrara, while not owned by Ferrero Group, operates as an affiliated entity under the same ultimate control as the Italian giant. Its US brands include Brach’s, Nerds and Trolli.
