Katjes International expects sale of 23% stake in CPK this year
Buyer expected to be a holding company of Ferrara Candy Co., a subsidiary of the Ferrero Group
Katjes International, through its subsidiaries, holds approximately 23% of the French confectionery company CPK. This “at-equity” participation stems from the contribution of Katjes International’s French and Belgian operations into the CPK Group end of 2018. The majority shareholder of CPK is the French private equity fund Eurazeo. Today, Eurazeo announced that it has entered into exclusive negotiations regarding the sale of CPK with a European holding company of the U.S.-based Ferrara Candy Company, a subsidiary of the Ferrero Group.
The finalization of the transaction remains subject to the conclusion of the information and consultation process with the CPK’s trade unions, as well as to approval from the competition authorities. The transaction should be finalized in the fourth quarter of this year. The transaction is expected to bring up to €80m of proceeds to Katjes International’s balance sheet in Q4.
CPK owns a broad portfolio of confectionery brands (including Lutti, Carambar, and Terry’s) and operates three production facilities in France with over 900 employees.
“We are pleased that – after our initial acquisition of Lutti in 2011 and its contribution to the larger CPK group in 2018 – we can now enable the next stage in the development of the brands in the CPK portfolio through this transaction. In line with our strategy to grow through acquisitions, we are continuously evaluating attractive brands to reinvest the expected proceeds.” says Tobias Bachmüller, Managing Partner of Katjes International.
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