CapVest-owned chocolate maker Natra has swooped to acquire Belgian luxury chocolatier Gudrun to create a global confectionery platform.
It follows the London-headquartered PE house buying the Spanish business in 2022.
Headquartered in Belgium, Gudrun has a history dating back to 1942. The company develops and manufactures high-quality pralines and truffles for a range of international retailers across multiple markets.
It operates a manufacturing and storage facility in Belgium, in addition to a significant packaging and distribution facility in Poland.
Natra has acquired the business for an undisclosed sum from current owner Down2Earth Capital.
“Gudrun is a fantastic business and this highly complementary strategic combination will significantly enhance Natra’s premium Belgian chocolate offering, while also allowing Gudrun to capitalise on Natra’s global reach and deep customer relationships,” said Natra CEO Armando Santacesaria.
Gudrun CEO Sofie de Lathouwer added: “Joining Natra marks the beginning of an exciting new chapter for Gudrun, which will allow us to bring our quality Belgian chocolates to more customers around the world. Natra shares our strong focus on premium quality, innovation and sustainability. We are excited about this opportunity and look forward to working with our new colleagues to expand our presence and positioning as a highly valued partner, developer and manufacturer of Belgian chocolates.”
A portfolio company of CapVest, Natra produces chocolate bars, pralines, tablets and spreads, which it sells in more than 90 countries worldwide. Its ingredients division also supplies a range of cocoa-based ingredients to the international food industry. The company has more than 1,000 employees across six production plants in Spain, Belgium, France and Canada, with annual revenues of more than €400m.
Completion of the transaction is subject to conditions and is expected to close in the coming weeks.
Natra was advised by Willkie Farr & Gallagher and KPMG. Down2Earth Capital was advised by Squarefield, Monard Law and LDS Advisory.
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