Private-equity firm CapVest acquires chocolate-maker Natra

SPAIN— London-based private equity fund, CapVest Partners (CapVest) is set to acquire Natra— a European producer and distributor of chocolates and cocoa products— from Luxembourg-registered Investindustrial Advisors, which acquired the Madrid-based company in 2019.

With a turnover in excess of US$415million in 2021, 1,000 employees and six production plants in Spain, Belgium, France and Canada, Natra combines traditional high-quality European chocolate making with constant innovation to meet changing tastes and needs of consumers.

Natra supplies own-label to retail customers as well as serving manufacturers. Its consumer products include pralines, tablets, snack bars and chocolate spreads. The company also offers a better-for-you assortment of vegan, sugar-free and organic products.

The business, which markets its products in more than 90 countries, also operates an ingredients division for cocoa powders, chocolate and cocoa butters.

CapVest principal investor Kristian Nikinmaa said: “With its strong heritage, international market presence, high-quality leadership team and reputation for great products, Natra is a very exciting platform for us, with ambitious plans to grow its presence in the growing and resilient chocolate category.”

He added that the London-based investor plans to seek out strategic and transformational acquisitions opportunities.

Natra CEO Dominique Luna said that in partnering with Investindustrial, Natra has received significant investments to upgrade its manufacturing footprint, internal capabilities and ESG initiatives that has resulted in building a strong platform for the future.

In April, CapVest acquired the US-based better-for-you snacks business Second Nature Brands, adding to its 2020 deal for the UK’s Inspired Pet Nutrition. The previous year, the investor offloaded Irish food company Valeo Foods and UK meat and seafood firm Eight Fifty Food Group, the owner of Young’s Seafood.

CapVest is a leading international private equity investor that partners with ambitious companies supplying essential goods and services to transform their businesses.

As an active and patient investor, CapVest has established a strong record of success in delivering attractive returns by working closely with management in transforming the size and scale of its portfolio companies through a combination of organic and acquisition led growth.

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