Chocolate Heavyweights Cut Deal
Domestic confectionary producer Jutrzenka has purchased the rights to the Goplana brand and a Poznan production facility from Nestle Polska and Societe des Produits Nestle for around 66 million zl.
Half of this sum has already been paid, with another 30% to be paid by the end of this year, while the outstanding amount will be transferred before the end of 2006. The investment will be financed by a combination of Jutrzenka's own sources and credit. The company has already received a loan of 30 million zl. According to Jutrzenka, Goplana is the second best recognized brand in the confectionary segment after Wedel. According to unofficial sources Jutrzenka is likely to acquire another company by the end of Q1 this year. "Following the first quarter at the earliest I will be able to state what financial effects the acquisition of Goplana will have on the company. I would like the EBITDA in 2005 be no worse than that of last year," revealed Jutrzenka's president and main shareholder, Jan Kolanski.