Turkish food group Pladis, the owner of Godiva chocolate and McVitie’s biscuits, has ruled itself out of making a bid for Nestle’s US confectionery arm.
Pladis, the international snacks arm of Turkish food giant Yildiz Holding, said it will instead look to invest in the “premium” chocolate market.
The company told news agency Reuters on Friday (22 September) it was looking at making a bid for the US$2bn-rated Nestle division, which includes brands such as Butterfinger and Baby Ruth.
But later that evening Pladis chief executive Cem Karakas then told Reuters it had decided against making an offer.
“Nestle North American assets at the end did not seem to have a feasible complementarity to our existing business there, hence we decided not to bid,” he told the publication.
“As premium chocolate is the only continuously growing segment in recent years in North America and western Europe, and we are uniquely positioned in this space, we will continue to invest there.”
Pladis had not replied to just-food’s request for further information at the time of writing.
Nestle first indicated it was open to offers for its US confectionery business back in June. Since then the likes of Hershey, Mars, Ferrero, Ferrera Candy Company and Leaf Brands have all been linked with making a bid.