Mondelez International has sold its Huesitos and Tokke chocolate brands to Chocolates Valor for an undisclosed sum.
The confectionery giant announced in May that it would stop production at the Ateca facility in Zaragoza, which produces the two brands, along with its Dos Hermanas plant in Seville. Mondelez said the decision to close the Ateca plant was taken due to a fall in output of candy and chocolate bars at the factory, which is only using 29% of its production capacity.
Go deeper with GlobalData
The deal will see Valencia-based Valor enter into the chocolate snacks category. At present, it produces chocolate tablets, hot chocolate and pastries.
The agreement is exclusively for the chocolate manufacturing business of the plant and the Huesitos and Tokke brands. Once finalised, the gum and candy lines that aren’t within the agreement will be moved to Mondelez’s manufacturing plant in Valladolid, as previously announced.
“Mondelez International is very satisfied to have reached this agreement,” the company said. “It is a good solution for the company and for the Ateca plant, as allows the continuity of the production. Moreover, it is an expression of the company’s corporate responsibility.”
See Also:
The transaction is expected to be finalised after the summer. Until then, the business will be operating as usual and the plant and the brands will be managed by Mondelez.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
