Chocolate Big Boys Buy Up Brand
Polish confectionery maker Jutrzenka has said it has reached an agreement to buy the Goplana confectionery brand from the Polish unit of Swiss food giant Nestlé.
The Polish company did not say how much the deal was worth but said it would enable Jutrzenka to double its revenues in 2005, reported Interfax. Goplana, ranked second in the Polish confectionery market in terms of brand recognition, has annual sales of around PLN150m (US$43.7m).
"We have high hopes concerning Goplana, because we will be able to expand to other segments we haven't had a presence in to date. Building a position in these segments from the very beginning would be very time consuming and costly, so we decided to buy the brand. We are very glad that we managed to come to an agreement with Nestlé," Jutrzenka’s president, Jan Kolanski, was quoted as saying.