23 January 2008 - Leading European sweet brand 'Lutti' manufactured by Leaf France SAS, the French subsidiary of Leaf International, is about to have new owners, reports the French business press today.
The brand is currently owned by CVC Partners and Nordic Capital who acquired the business from CSM in December 2004 for 850 million euro.
The identity of the new owner was not revealed. However, it is believed to be a Dutch private equity fund.
Based in Bondues (Nord department of France), the brand will be 60-years-old in 2009. The Lutti factory has a workforce of 600 and produces 40,000 tons of sweets per year.
Leaf International has 14 branches across Europe and employs 3,200 people worldwide.
Leaf is a spin off company from CSM which sold its sugar confectionery business in 2005 to CVC Capital and Nordic Capital. Leaf holds a leading market position in Western Europe in all three sugar confectionary segments: candy, chewing gum and pastilles, claims to company.
The company is the market leader for chewing gum in the Netherlands and Finland thanks to its Jenkki and Sportlife brands, and also leads the pastilles market in Sweden, Norway and Finland with ist Lökerol and Mynthon brands.
In June of last year, FLEXNEWS reported that Leaf had started the production of sweets in its new plant in Levice, Slovakia.
The firm also claims to be the candy market leader in the Netherlands, Belgium and Sweden with ist sales of Red Band, Malaco and Lutti sweets, as well as second in the French, Finnish and Italian candy markets with Leaf and Lutti. Finally, Leaf has a leading position in the UK with its Chewits brand.