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Cloetta Annual Report 2013

Highlights of 2013

  • The factory in Aura, Finland, was closed. The factory in Alingsås was sold. The restructuring of warehouse operations in Scandinavia was completed.
  • The candy producer FTF Sweets Ltd. which owns the brand Goody Good Stuff was acquired. Goody Good Stuff is vegetarian and free from artificial flavours and colours.
  • Cloetta placed a five-year SEK 1,000m bond issue and renegotiated its bank facilities agreement to reduce its borrowing costs.
  • The integration process was completed.
  • An agreement was signed to acquire Alrifai Nutisal AB, a leading Swedish producer of dry roasted nuts. The acquisition was carried out in January 2014.
  • No dividend is proposed for the year, in line with the Group’s financial strategy where the focus is on reducing net debt to approximately 2.5 x EBITDA.