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Barry Callebaut and Natra deal is called off |
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Friday, 11 September 2009 |
Barry Callebaut has ended negotiations about the possible integration of its European consumer chocolate business into Natra SA of Spain.
The company had planned to sell its consumer business to Natra in exchange for a minority stake in the Spanish company, and had announced that it wanted to focus on its core business of making chocolate intermediate products for global companies. The deal would have turned Natra into a significant competitor in Europe`s private-label chocolate sector.
However, Barry Callebaut has announced that the merger plan has failed because of a ‘gap in valuation of the two companies.’ Kennedy’s Confection does,however, undertstand that the company is still planning to sell its consumer unit.
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