So much for the opinions of analysts…
Ending months of speculation, Asian confectionery giant Lotte Group is set to acquire Cadbury’s old Wedel business in Poland from Kraft Foods. The sale of Poland’s oldest chocolate brand was a condition set on Kraft’s takeover of Cadbury in February and around 1,000 employees will transfer across to the new owners.
That Lotte was on the acquisition path should not come as a surprise. It has publicly stated that it intended to increase global confectionery sales by 20 per cent in the next few years and entered the mainstream European market when it took over Guylian in 2008. Analysts however, have been taken back by the move as Lotte had not even been cited as a potential candidate up until now with Hershey and Nestlé considered the main contenders.
Maybe it is time that we stop reporting in the vein of “Several people familiar with the situation said…” as clearly, companies have no intention of telling the wider public about their business dealings before all the cards are on the table.
Cheers, Katrine Kjoeller
Editor, Confectionery Production
