France: Mondelez confectionery brands to be sold to Eurazeo
North American food business Mondelez is to sell a number of its confectionery brands in Europe to France-based investment firm Eurazeo, according to French media reports.
The sale includes more than 10 established brands including Poulain, Carambar, Krema, La Pie Qui Chante and Terry's as well as the licence to Pastilles Vichy, Rochers Suchard and Malabar. Five production sites in France – in Blois, Marcq-en-Baroeul, Saint-Genest, Strasbourg and Vichy – are also included in the deal.
As a result of the move, Mondelez said that it would also be closing its plant in Valladolid, Spain before the end of 2017. The facility manufactures products under the Carambar, Krema, La Pie Qui Chante, The Natural Confectionery Company and Dulciora brands – the latter also part of the Eurazeo agreement – and this production will be now transferred to other plants in France.
The brand sale and the fact that the plant in Valladolid was currently operating at less than half of its present production capacity made its future unviable, the company added.
Source: AOF / ABC