Highly acquisitory Spanish functional foods company Natraceutical has EUR20m (US$25.11m) in its coffers to make small acquisitions in Southern Europe and expand its distribution network, the company’s Chairman Xavier Adsera has told analysts in Madrid.
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Adsera reportedly said the funds come from a syndicated loan to pay for its Forte Pharma takeover, which analysts have welcomed, raising the company’s profit outlook.
Meanwhile, Spanish porcelain maker Lladro has sold 1.7% of the company for EUR5.3m, cutting its stake to 5% from 6.7%, the company said in regulatory filings.
The move comes as real-estate group Nozar bought a 5% holding in Natraceutical earlier this month.
Natraceutical makes functional ingredients, such as cacao derivatives and purified caffeine, for the food and beverage industries.
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