Acquisition, Chocolate Manufacturing, Romania
Oryxa Capital, the United Kingdom based investment fund, has agreed to acquire Kandia-Excellent SA, the Romanian chocolate manufacturer, from Cadbury Plc, the UK based manufacturer of beverages and confectionery products, and a subsidiary of Kraft Foods Inc, the listed US based manufacturer of branded food and beverage products, including cheese products, cookies and crackers, coffee, salad dressings, packaged dinners and sauces, for an undisclosed consideration.
Kandia-Excelent has workforce of 530 employees. The acquisition includes Kandia-Excelent brands (Rom, Magura, Kandia, Laura, Sugus and Silvana and others), related trademarks and the manufacturing facility in Bucharest. The transaction follows the European Commission's decision to approve Kraft Foods' acquisition of Cadbury plc conditioned on the divesture of its Romanian subsidiary Kandia-Excellent and Cadbury Wedel Sp zoo, the Poland based chocolate confectionary company.
In June 2007, Cadbury acquired Kandia-Excellent for RON 349.76m (EUR 106.95m). Post transaction, Kraft Foods will retain the Cadbury international brands, including Halls candy. The transaction is subject to approval from European Commission.