Israeli food manufacturer Strauss-Elite has said it is in advanced negotiations over the sale of its Excella chocolate factory in France.

Strauss-Elite did not divulge the potential value of the deal, but said that if the deal went through to completion it would significantly impact the company’s 2004 results, reported Dow Jones International News.

Earlier this year the board of Israeli food maker Elite Industries approved a merger with parent firm Strauss-Elite, giving the Strauss family greater control of the company. The international operations of Strauss-Elite focus mainly on coffee and chocolate.