German confectioner Katjes Fassin announced today (11 November) that it has become the majority stakeholder in French candy firm Lamy Lutti.
Katjes Fassin has taken its stake in Lamy Lutti from 33.3% of the business to 66.6%.
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The German firm first bought a 10% stake in the fruit gum, candy and chewing gum manufacturer in February 2009, increasing it to 33.3% in the same year.
Katjes Fassin bought the most recent shares in the company from Dutch investors Nimbus and Varova and the company’s management who had acquired the company in 2008 from Lamy Lutti Leaf.
“At the European level, we stand by our motto, ‘Stick to your last’,” said Katjes Fassin managing partner Tobias Bachmüller.
“That is, we buy brands that are on the shelf next to us, in countries that are adjacent to this significant position in Germany and France. Benelux and Emmerich [the German town where Katjes Fassin is based] are also in the geographical centre of our group.”
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By GlobalDataBachmüller told just-food that the move was “very simple” as there are “not so many fruit gum companies in Europe”.
“We are number three in Germany and Lami Lutti is number one in Belgium and two in France, so the acquisition just makes sense,” he said.
