27 February 2007 - Spanish confectionery firm Chupa Chups SA has sold its Afchain business to a group of three investors from the north of France for an undisclosed sum. Afchain is a Cambrai-based sweet maker, which produces the French traditional candy “Bêtises de Cambrai”.
According to reports in the French business press, Chupa Chups had wanted to sell Afchain since late 2005. Furthermore, the “Bêtises de Cambrai” manufacturer does not fit in with the Spanish firm’s strategy to keep “international-selling” businesses, explains a Chupa Chups France spokesman.
Bêtises de Cambrai, a traditional french mint or fruit-tasting sweet, has been manufactured by Confiserie Afchain since 1830. The sweet is also produced by la Confiserie Despinoy, located in Fontaine Notre Dame (Nord Pas de Calais).
Afchain employs 11 people and recorded a turnover of 1 million euro in 2005, adds the business press.
In July 2006, FLEXNEWS reported that Dutch-Italian confectionery firm Perfetti Van Melle SpA agreed to buy 100% of Chupa Chups SA for an undisclosed sum. A Spanish daily at the time did, however, estimate the sale at 400 million euro.