Finnish food group Raisio acquires Czech company Candy Plus

The Finnish food group Raisio has acquired the Czech company Candy Plus, a confectionery manufacturer. This acquisition complements Raisio’s existing and successful confectionery activities in the UK trading as Big Bear Confectionery (Fox’s mint brand). Raisio is paying an enterprise value (EV) of € 20.5 m including liabilities arising from a new capital investment of € 2.3 m in fruit-liquorice capability. Raisio will pay the consideration from its cash reserves.

Candy Plus was founded in 2000 and the company is owned by private investors. In 2011, the company’s net sales totalled € 23.3 m, EBITDA € 2.9 m and EBIT € 2.1 m. Assets on 31 December 2011 totalled € 17.6 m, liabilities € 9.1 m and equity € 8.5 m. The company’s two production sites are located in the eastern part of the country, in Rohatec and. The company employs more than 400 people all of whom will continue as Raisio’s serving employees.

The Candy Plus range focuses on the faster growing product categories of soft-eating and higher-fruit jellies, liquorice and functional confectionery. Candy Plus has strong consumer brands in its home market, the Czech Republic, including Juicee Gummee, Fundy, Pedro and Cuksy. Branded products account for about 40% of net sales.

www.raisio.com