Raisio’s confectionery business transferred to Valeo Foods
Raisio announced on 22 December 2017 it has agreed to divest its confectionery business to Valeo Foods Ltd at enterprise value of EUR 100 million. As the buyer has paid the purchase price of the shares, EUR 77 million as well as all other conditions for completion of the deal have been fulfilled, Raisio’s confectionery operations have transferred to be a part of Valeo Foods Group on 29 December 2017.
Raisio’s divested confectionery business includes six production plants in the UK and Czech Republic, as well as the brands, of which Poppets, Fox’s, XXX, Just and Pedro are the best-known. Furthermore, the business is a significant confectionery producer for its retail and industrial customers. In January-September 2017, net sales for Raisio’s confectionery business totalled EUR 71.3 million and EBIT was EUR 6.4 million.