Cloetta has signed a letter of intent with Coop Sweden AB to provide a brand new Pick & Mix concept.
Cloetta will manage the total Coop Sweden Pick & Mix concept, starting in 2015. This means that Cloetta will be responsible for the product range, racks, merchandising etc. in Coop’s stores. In addition, Cloetta will deliver a Pick & Mix concept for natural snacks including, for example nuts. A final agreement with Coop is expected to be signed during the third quarter of 2014.
“Cloetta will create a brand new Pick & Mix concept for Coop. Utilizing our wide range of products from several markets complemented with external classic products, we can provide Coops customers a very attractive range of products. With the new Pick & Mix concept, we are expanding our offerings within Munchy Moments and contribute to profitable growth “, says Bengt Baron, CEO of Cloetta.
Cloetta presently has no own Pick & Mix concept in Sweden, but has run a very successful own Pick & Mix concept, Karkkikatu, in Finland for many years. Outside Finland, Cloetta has previously mainly acted as a supplier to the different Pick & Mix concepts operated by other companies or by the trade.
Pick & Mix is estimated to account for about 30% of the total volume in the Swedish confectionery market.
The information contained in this press release is such that Cloetta is required to disclose pursuant to the Swedish Financial Instruments Trading Act and/or the Swedish Securities Markets Act. The information was submitted for publication on 4 July 2014 at 08:30 a.m. CET.
Jacob Broberg, SVP Corporate Communications & Investor Relations, 46 70 190 00 33.