Investindustrial puts in €142m offer for chocolate maker Natra

It made the offer through a new acquisition vehicle, World Confectionery Group, which is registered in Luxembourg and owned by Investindustrial VI. Investindsutrial is offering the sum for 100% of Natra’s shares and convertible bonds.

Investindustrial VI is a €2bn buyout fund that closed in 2016. As of May last year it was 40% deployed, but has completed a further deal since then.

Natra is headquartered in Madrid and provides chocolate products and cocoa derivatives for private-label brands and other companies. It mostly operates in Europe but says it is expanding in North America and China. It has six production centres in Spain, Belgium, France and Canada.

Natra generated adjusted EBITDA of €27.1m over the first three quarters of 2018, which was up 52% on the same period in the previous year.

The business also owns a controlling stake in Spanish multinational Natraceutical, which specialises in the commercialisation of natural nutritional supplements in Europe through its company Laboratoires Forté Pharma.

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