Spanish food group SOS Cuetara is considering selling its biscuit business along with some regional brands in order to focus on expanding its international presence.
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The move follows the biscuit-maker’s acquisition of olive oil brand Bertolli from Unilever.
SOS said it now intends to “focus its efforts on those business lines in which it has both an international presence and the potential to expand its international markets”.
“The group plans to centre its management effort on those divisions that will enable it to consolidate its position as a global branded food operator enjoying a leadership position in its principal markets, while at the same time reducing significantly the financial burden arising from the acquisition of Bertolli,” the company said in a statement.
Ahorro Corporación Financiera is evaluating the disposal for SOS.
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By GlobalData
