RAISIO ACQUIRED A CONFECTIONERY COMPANY IN CONTINENTAL EUROPE
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. Raisio is paying an enterprise value (EV) of EUR 20.5 million including liabilities arising from a new capital investment of EUR 2.3 million 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 EUR 23.3 million, EBITDA EUR 2.9 million and EBIT EUR 2.1 million. Assets on 31 December 2011 totalled EUR 17.6 million, liabilities EUR 9.1 million and equity EUR 8.5 million. The company’s two production sites are located in the eastern part of the country, in Rohatec and Petřvald u Karviné. 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.
With the acquisition, Raisio will be able to make better use of synergies in its confectionery operations, which will be seen in increased flexibility and improved cost-effectiveness.
On 13 November 2012, Candy Plus will become part of Raisio’s Consumer Brands unit and this acquisition is expected to further improve profitability of the Brands Division. Raisio continues the implementation of its growth phase according to plan.
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