NATRA acquires Italy s Nutkao

Spanish chocolate and confectionery group NATRA SA signed an agreement with the Braida family, the owners of Nutkao, to fully acquire the company for 48 m euro. The deal is expected to be finalised within the next 4 months, the company noted.
In a statement, NATRA said that with Nutkao and Belgium s All Crump, which it acquired in October 2007, the group becomes Europe s foremost producer of chocolate spread, competing with Ferrero s Nutella. The recent acquisitions make NATRA the leading European producer of chocolate and hazelnut spreads for private label business. NATRA has formed a new business unit projected to invoice more than 100 m euro altogether for 2008, with a volume superior to 50,000 tonnes a year, seppling out 15% of the European market share.