Leading Israeli food manufacturer Elite is restructuring its lossmaking French chocolate subsidiary.
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Maariv reports that the chocolate plant “is one of the less successful companies in Elite’s international activities, which are primarily focused around branded coffee. The French chocolate products are not branded, but destined for the private label market.”
Trade sources commented that chocolate prices in France increased threefold in 2002, but as a private-label producer, “Elite could not successfully compete price-wise.”
Elite is also considering launching onto European markets its Max Brenner line of chocolates, slated for the premium niche. Max Brenner chocolates are currently sold in London’s Harrod’s department store.
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By GlobalData
