European confectionery group Cloetta has snapped up Goody Good Stuff, a small UK producer of natural, free-from candy.
Goody Good Stuff was set up in 2010 and produces vegetarian, dairy-free and nut-free confectionery. Its core markets are the UK and the US, where it has just secured a listing with a “leading” convenience chain, Cloetta said. In 2012, Goody Goody Stuff generated sales of around SEK10m (US$1.5m), Sweden-based Cloetta added.
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“Goody Good Stuff gives us a possibility to strengthen our product offer within an interesting segment. The products from Goody Good Stuff can be consumed by everyone as it is a natural candy free from allergens. This is a segment where we see increased consumer demand and where Cloetta can play an important role,” Cloetta CEO Bengt Baron said. Financial details of the deal, announced today (21 May), were not disclosed.
Goody Good Stuff’s confectionery does not contain animal-based gelatin, uses natural extracts and includes no artificial colours or flavours, Cloetta said.
The deal is the first acquisition Cloetta has made since it was formed in 2011 through the merger of Swedish confectioner Cloetta and Netherlands-based group Leaf International.
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By GlobalData
