World Confectionery Group, a subsidiary of investment firm Investindustrial Advisors, has offered €142.4 million to acquire Spanish chocolatier Natra.
Investindustrial has offered €0.90 in cash for each Natra share and €900 euros for each convertible bond. The investment firm mainly invests in medium-sized companies active in sectors such as industrial manufacturing, consumer, leisure and business services.
Madrid-headquartered Natra has six specialised production centres in Spain, Belgium, France and Canada, as well as a permanent commercial presence in Europe, the US and Asia.
The company makes a range of chocolate products such as slabs, countlines, spreads and Belgian specialties. It also produces cocoa mass, cocoa butter and chocolate powder.
In the nine months to the end of September 2018, Natra posted net earnings of €12.3 million and revenues of €270 million, as it benefitted from higher sales volumes in its consumer division.
Global investment bank Houlihan Lokey acted as a financial advisor to Natra in the takeover bid.
© FoodBev Media Ltd 2019
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