France: Cristal Union acquires Eridania
Cristal Union, the French sugar processor and owner of the Daddy brand, has announced that it has reached a deal to acquire Italian sugar and sweetener firm Eridania through its subsisdiary Cristal Co.
Eridania, in which Cristal Union has held a 49% stake since March 2011, is Italy's leading distributor of sugar and sweeteners. The firm markets a broad range of products under brands such as Tropical, Truvia, Zefiro and Truvia, including cane and muscavado sugars, agave syrup and sweeteners based on stevia and fructose.
Commenting on the acquisition, Cristal Union managing director Alain Commissaire said: "We are delighted to acquire Eridania Italia along with the proud history of the Eridania brand, which has been renowned for more than 100 years. Our aim is to develop the brand and discover new possiblities within the market. It is also an excellent opportunity for Cristal Union to consolidate its commercial networks in the south of Europe, offering new opportunities for our producers through market liberalisation".
Source: Cristal Union / Eridania