Natra, one of Europe’s largest private label and co-manufacturing platforms for chocolate products, has announced the acquisition of Gudrun, a prominent player in the development, production, packaging, and commercialisation of authentic Belgian chocolates and truffles. This strategic move aims to establish a diversified and leading chocolate platform that prioritises premium quality, innovation, and sustainability.
The acquisition will see Natra purchase 100% of Gudrun from its current owner, Down2Earth Capital, though the terms of the transaction have not been disclosed. This combination of the two businesses is expected to facilitate ongoing growth and development in the chocolate sector.
Headquartered in Lier, Belgium, Gudrun boasts a rich history that dates back to 1942. The company is known for its high-quality chocolate offerings, catering to a wide array of international retailers across various markets. Gudrun’s strong in-house research and development (R&D) capabilities have positioned it as an innovative leader, allowing it to offer an extensive range of trending products, concepts, and packaging solutions. The company operates a manufacturing and storage facility in Lier, alongside a significant packaging and distribution facility in Poland.
Natra, a portfolio company of CapVest Partners LLP, is renowned for its production of chocolate bars, pralines, tablets, and spreads, which it markets in over 90 countries globally. The company’s ingredients division also supplies a variety of cocoa-based ingredients to the international food industry. Natra has more than 1,000 employees and operates six production plants located in Spain, Belgium, France, and Canada.
Armando Santacesaria, CEO of Natra, expressed enthusiasm about the acquisition, stating, “Gudrun is a fantastic business, and this highly complementary strategic combination will significantly enhance Natra’s premium Belgian chocolate offering. It will also enable Gudrun to leverage Natra’s global reach and established customer relationships. We look forward to welcoming our new Gudrun colleagues on board once the deal is completed and collaborating with them to build on their successes and drive further innovation and growth.”
Sofie de Lathouwer, CEO of Gudrun, shared her excitement about the merger, stating, “At Gudrun, we are always focused on the growth of our business and our people. Joining Natra marks the beginning of an exciting new chapter for Gudrun, allowing us to bring our quality Belgian chocolates to more customers around the world. Natra shares our strong commitment to premium quality, innovation, and sustainability. We are thrilled about this opportunity and eager to work with our new colleagues to expand our presence and position as a valued partner, developer, and manufacturer of Belgian chocolates.”
Completion of the acquisition is subject to certain conditions, with expectations that the transaction will be finalised in the coming weeks. Natra received advisory support from Willkie Farr & Gallagher and KPMG, while Down2Earth Capital was advised by Squarefield, Monard Law, and LDS Advisory. This merger not only enhances Natra’s portfolio but also underscores the growing importance of quality and sustainability in the chocolate industry.
