Spanish food group Natra has bought Belgian chocolate firm All Crump for EUR45m to enter the European cacao and hazelnut spreads market.
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All Crump is Europe’s second-largest producer or spreads for private-label, Natra said. The deal will boost Natra’s product portfolio which includes cacao derivatives, industrial chocolates and bars among others for sale to third-party manufacturers.
Natra, which owns functional-foods and chocolate group Natraceuticals, will gain economies of scale and logistic synergies from All Crump’s acquisition.
The deal will help the company deliver operating profits (EBIITDA level) of EUR6.5m next year on revenues of EUR58m, up from estimated operating profits of EUR6m and turnover of EUR54m in 2007 respectively.
Natra has made large acquisitions in recent years to bolster its European foothold.
Apart from Spain, It has a strong presence in the UK and French markets.
Naatraceutical bought the UK’s Braes Group for EUR80m in 2005. That same year, Natra purchased Belgian chocolate purveyor Jacali for EUR22m.
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By GlobalData
