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Press ReleasesSvensk version
Cloetta has signed an agreement to acquire Candyking Holding AB (“Candyking”) – a leading concept supplier of pick and mix candy in the Nordic countries and the United Kingdom. The acquisition strengthens Cloetta’s position within pick & mix and creates substantial synergies. This is in line with the strategy to grow within the category since it is an important and in many countries growing part of the confectionery market.
Cloetta’s Nomination Committee has informed the company of its proposal regarding new Board of Directors.
Cloetta’s largest shareholder, AB Malfors Promotor, has requested that Cloetta convert 4,126,365 A-shares to B-shares.
Net sales for the quarter increased by 3.8 per cent to SEK 1,684m (1,622), of which organic growth accounted for 1.0 per cent. Operating profit, adjusted, increased to SEK 258m (255).
Cloetta AB will publish the year-end report for the period 1 January – 31 December 2016 on Wednesday 1 February at 08:00 a.m. CET. Following this report Cloetta will arrange a conference call with web presentation for media and the financial community.
In light of the negative Italian economic development and the performance of Cloetta Italy over the last years, Cloetta has initiated a strategic review of Cloetta Italy. As a consequence of this an indicative valuation of Cloetta Italy shows an impairment requirement of SEK 771m pre-tax and SEK 594m post-tax attributable to Cloetta Italy.