Nordic confectionery group Cloetta Fazer has snapped up Swedish firm Karamellpojkarna for an undisclosed sum.
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Cloetta Fazer, which accounts for over a fifth of all confectionery sales in the Nordic region, announced the acquisition this afternoon (1 October). Karamellpojkarna is the third-largest supplier of throat pastilles in Sweden.
Cloetta Fazer said demand for throat pastilles had grown “dramatically” in recent months and predicted that the acquisition would boost its sales in Sweden by 6%.
“In line with our strategy, we are seeking growth by diversifying into product areas where we currently have a weak position or none at all,” said Cloetta Fazer CEO Jesper Åberg. “Karamellpojkarna’s portfolio includes a number of robust brands and I am convinced that we can further develop and strengthen these.”
Karamellpojkarna, which also makes a range of fruit-flavoured lollipops and toffee products, enjoys annual sales of around SEK70m (US$10.8m). Åberg added: “The knowledge of sugar free products that Karamellpojkarna brings to Cloetta Fazer is a welcome addition and we expect this to open up new opportunities for us in the market.”
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By GlobalDataThe two companies said Karamellpojkarna’s production base in Alingsås would remain open.
Cloetta Fazer has a confectionery market share of 40% in Finland and 24% in Sweden. In the Baltic region, the company is number two in the market.
