Spanish chocolate and natraceuticals firm Natra is to set up chocolate production in Canada in a bid to double sales in North America over the next three years.
The EUR12m (US$15.4m) investment, announced today (20 May), will see Natra rent a production facility in Ontario as part of its consumer goods division. The project, the company says, is to increase its position in markets outside Europe, particularly North America and Asia.
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“In 2012, the North American market accounted for 12% of Natra’s consumer goods division’s turnover,” said CEO Mikel Beitia. “Sales in that region rose from EUR13m in 2011 to EUR29m at the end of 2012, a growth of 123%. With the increased presence of Natra in North America, we estimate that the consumer goods division’s sales in this market will double again in the next three years.”
The facility will add 12,000 metric tonnes of chocolate products to its existing 77,000 annual volume.
The Canadian manufacturing presence will be accompanied by the opening of a sales office in Toronto next June. The company said it will be maintaining its sales office in San Diego, in the US, which is focused on the marketing of Natra’s industrial goods division.
Natra’s other manufacturing facilities are based in France, Spain and Belgium.
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