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June 13, 2011

SPAIN: Nestle could join race for Nueva Rumasa’s Cacaolat

Nestle has added itself to a swelling roster of potential suitors for Cacaolat, the Spanish chocolate shakes-to-biscuits company owned by beleaguered food group Nueva Rumasa.

Nestle has added itself to a swelling roster of potential suitors for Cacaolat, the Spanish chocolate shakes-to-biscuits company owned by beleaguered food group Nueva Rumasa.

Cacaolat is one of ten Nueva Rumasa-owned companies undergoing a highly publicised bankruptcy process. While Cacaolat’s production has continued uninterrupted, the company now plans to temporarily lay off 200 employees as part of the proceedings.

The Spanish bankruptcy court has received interest from brewer Damm, water company Vichy Catalan, Llet Nostra and Nutrexpa, as well as Nestle, sources close to the situation suggest.

An analyst with Madrid-based broker Renta 4 also told just-food that Nutrexpa is viewed as a strong candidate, given it owns chocolate powder brand Cola-Cao.

A Nestle Spain company official told just-food: “We have to see if Cacaolat is an interesting brand for Nestle to grow in Spain or if we have enough with Nesquik before we make a move.” Nestle is looking at the company’s accounts, the spokesperson confirmed.

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