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Natra, a player in the European chocolate market, has acquired Gudrun, a well-established manufacturer of Belgian chocolates and truffles.

The acquisition, in which Natra will acquire 100% of Gudrun from its current owner, Down2Earth Capital, is expected to enhance Natra's offerings in high-quality Belgian chocolates while expanding Gudrun's reach into international markets.

Founded in 1942 and headquartered in Lier, Belgium, Gudrun has built a reputation for developing and producing artisanal chocolates for various international retailers.

The company boasts significant in-house research and development capabilities, allowing it to create innovative products and packaging that align with current market trends. Gudrun operates a manufacturing facility in Lier and a packaging and distribution centre in Poland.

Natra, backed by CapVest Partners LLP, is recognised for its production of chocolate bars, pralines and spreads, with a distribution network spanning over 90 countries.

The company also supplies cocoa-based ingredients to the broader food industry, employing more than 1,000 people across six production plants in Spain, Belgium, France and Canada.

Armando Santacesaria, CEO of Natra, said: "We look forward to welcoming our new Gudrun colleagues on board once the deal completes and working with them to build on their successes to date to drive further innovation and growth”.

Sofie de Lathouwer, CEO of Gudrun, added: "Joining Natra will enable us to bring our quality Belgian chocolates to more customers worldwide, while aligning with their commitment to premium quality and sustainability".

The transaction is subject to customary closing conditions and is expected to be completed in the coming weeks. Advisors for the deal include Willkie Farr & Gallagher and KPMG for Natra, and Squarefield, Monard Law,and LDS Advisory for Down2Earth Capital.

Financial terms of the deal have not been disclosed.