Cloetta has completed the divestment of its Italian operations
Cloetta has today completed the divestment of Cloetta Italy to Katjes International. The proceeds will generate a positive net cash effect of SEK 415m during 2017.
The divestment of Cloetta Italy was made public on 6 July, 2017 and follows Cloetta’s strategy to focus more on the business in North-Western Europe including the recently acquired Candyking business. The sale equals an Enterprise Value (EV) of SEK 450m. For additional information on the divesture, reference is made to the previous press release dated 6 July, 2017.
The information was submitted, by the below contact person, for publication on 5 September, 2017 at 2:00 pm CET.
Jacob Broberg, SVP Corporate Communications & Investor Relations, 46 70 190 00 33.
Cloetta, founded in 1862, is a leading confectionary company in the Nordic region and the Netherlands. Cloetta´s products are sold in more than 50 countries worldwide with Sweden, Finland, Denmark, Norway, the Netherlands, Germany and the UK as the main markets. Cloetta owns some of the strongest brands on the market, such as Läkerol, Cloetta, Candyking, Jenkki, Kexchoklad, Malaco, Sportlife and Red Band. Cloetta has 8 production units in 5 countries. Cloetta’s class B-shares are traded on Nasdaq Stockholm. More information about Cloetta is available on www.cloetta.com