Cloetta considers to sell struggling Italian business

Cloetta’s sales in the fourth quarter 2016 increased in Sweden, Denmark, the Netherlands and in export markets, but declined in Finland, Italy, Norway, Germany and the UK. However, higher items affecting comparability, mainly the impairment ­related to Cloetta Italy, significantly impacted the operating profit. Danko Maras, Interim President and CEO, Cloetta, said: “We have decided to initiate a strategic review of Cloetta Italy. It’s aimed at improving growth and margins in the Cloetta Group and could potentially include a divestment of the Italian business.”

In 2016, Cloetta Italy posted € 81.3 m with traditional brands like Sperlari, Galatine, Dietorelle and Saila. Italy re­presents 12% of Group‘s overall sales. Cloetta Italy operates four factories and employs 450 people. The company is the number two player in the Italian sugar confectionery market, behind leader ­Perfetti Van Melle. Besides, Cloetta opened its first online store in China through Alibaba‘s Tmall Global to expand its Asian markets.