Newly-appointed Cloetta CEO David Nuutinen has said local acquisitions will form part of his plans to grow the European confectioner.
The head of Cloetta's Finnish business, Nuttinen will succeed Bengt Baron who has decided to step down after six years as chief executive.
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Nuutinen, who in the past has held roles with McDonald's, PepsiCo and Kellogg, outlined acquisitions as one of his "ambitions" for the business, alongside plans to continue to focus on its local "heritage brands" which include Cloetta, Jenkki and Saila.
Cloetta has made a series of acquisitions since its merger with Leaf International in 2012, a transaction that broadened its business across Europe. Last May, Cloetta acquired Ireland's Aran Candy, the company behind candy brand The Jelly Bean Factory. In December 2013, Cloetta struck a deal to acquire Sweden-based dry roasted nut maker Alrifai Nutisal.
The company has been on the look-out for more deals, which looks set to continue under Nuutinen.
A spokesperson told just-food the company's strategy was to acquire in an area it describes as "munchy moments".
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By GlobalDataHe said: "We will continue to look for acquisitions, primarily within our home market."
Cloetta also plans to focus on "cost-efficiencies". The spokesperson said one example would be through its Lean 2020 Supply Chain programme. "Cloetta has a financial target of an EBIT margin of 14%. We need to drive profitable growth and cost-efficiencies in order to achieve our growth".
Cloetta chairman Caroline Sundewall, said the internal appointment of Nuutinen, who spent ten years as CEO of Cloetta Finland, was one that demonstrated "continuity and stability".
"David has a solid background and excellent understanding of the confectionery industry. As leader of our Finnish business, David has led it to continued excellent performances by consistent and dedicated leadership. He has throughout the years improved the performance of his business area and under his leadership the strategy and financial targets have remained intact".
She added his objectives and targets for the business were no different from the plans outlined by Baron and the management board.
"We haven't had any discussion about our objectives and targets. Everything remains intact. David is very knowledgeable on where we are going. There are no changes in the target or what David will strive for in the CEO role."
Baron was the CEO of Leaf and oversaw the merger between the company and Cloetta. He attained the role of CEO of the enlarged business – which kept the Cloetta – name in 2012.
"After six exciting and intense years, I feel it is a good time to move on. I am really proud of what Cloetta, as an organisation, has achieved during this period. My decision is also made easier as I am handing over the responsibility into David Nuutinen’s capable hands," Baron said today.
