German confectioner Katjes International has confirmed plans to exercise its option to acquire the 33.3% stake in French candy firm Lamy Lutti it does not already own.

Katjes announced on Thursday (7 July) that it has launched an EUR30m (US$42.2m) bond to finance the transaction.

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In November, Katjes increased its stake in Lamy Lutti from 33.3% to 66.6%. It expects its move to buy the rest of the company to be complete by the end of the year.

Katjes International is the international confectionery arm of Germany’s Katjes Group. The group has two other subsidiaries – Katjes Fassin, which focuses on Germany’s confectionery market and Katjesgreenfood, a division set up to invest in fledgling businesses.

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