New acquisition in sight in the chocolate sector. The Belgian Sweet Products has entered into exclusive negotiations to buy the French number one Cémoi.
The Belgian family group Sweet Products and the French number one chocolate maker Cémoi have entered into exclusive negotiations for a takeover of the French by its Belgian competitor, Cémoi announced on Tuesday. "Sweet Products wishes to acquire the activities of the Cémoi group with the objective of creating a major player in chocolate and confectionery in Europe", which will represent €1.2 billion (US$1.4 billion) in turnover and will employ a total of more than 5,000 employees, Cémoi announced in a press release.
This new entity "would benefit from total control of the cocoa supply chain, from the bean to the finished products, thanks to its 24 manufacturing plants located in Europe, the United States, England, and Ivory Coast."
This project could give birth to "the world number one in the field of private label chocolate producer", and would allow "to develop significant positions in the branded segments", according to Cémoi. He highlighted "the complementarity of the two groups, both in terms of the location of their production sites and the geographic distribution of their products." This new entity "would benefit from total control of the cocoa supply chain, from the bean to the finished products, thanks to its 24 manufacturing plants located in Europe, the United States, England, and Ivory Coast" the group added.
The Cémoi Group, managed by the Poirrier family since 1962, is the number one chocolate producer in France, with 3,200 employees, including 2,200 in France, where it concentrates nine of its 14 production plants. Each year, it sells 200,000 tonnes of chocolates and confectionery, for a turnover of €750 million (US$900 million) in 2020. If it sells chocolates under its brand, it also supplies the entire food industry, since manufacturers to professional chocolate users: chocolatiers, pastry chefs, catering and mass distribution.
The Belgian group Sweet Products is a Belgian family business managed by the Walder family which includes the Baronie Group and the Belgian group 'Belgian Ice Cream'. It operates seven chocolate factories located in Belgium, the Netherlands, Germany and Switzerland, two ice cream production sites in Belgium and one caramel factory in the United Kingdom.
In addition to the Jacques, Alpia, Sarotti, Alprose, Duc d'O and Ijsboerke brands, the production of the Belgian group is mainly dedicated to private label products. The transaction, the amount of which has not been communicated, has yet to receive the approval of the competition authorities.
See here for more: https://www.lecho.be/entreprises/alimentation-boisson/le-producteur-belge-de-chocolat-sweet-products-en-negociation-exclusive-pour-racheter-le-numero-un-francais-cemoi/10306834.html