Cloetta has acquired Goody Good Stuff. The acquisition is in line with the company’s strategy to broaden its product range within the growing segment of natural candy.
“Acquisitions are a part of our growth strategy and Goody Good Stuff gives us a possibility to strengthen our product offer within an interesting segment. The products from Goody Good Stuff can be consumed by everyone as it is a natural candy free from allergens. This is a segment where we see increased consumer demand and where Cloetta can play an important role”, says Bengt Baron, CEO Cloetta.
Goody Good Stuff is in a growth phase and has recently signed a nation-wide distribution agreement with one of the leading convenience stores in the US. Sales amounted to approximately €1.2 million in 2012. Goody Good Stuff was launched in 2010 and has its core markets in the UK and US. The natural gummy candy range from Goody Good Stuff is produced with a technology which eliminates the need for animal-based gelatin. It has no artificial colours or flavours, uses only natural fruit and vegetable extracts and is also free from allergens.
Cloetta acquired Goody Good Stuff from a group of investors for an undisclosed amount. The acquisition will have a limited effect on Cloetta’s future operating profit, and the purchase price is insignificant compared to the market value of Cloetta.
Source: Confectionery News