Who could pay 30-50m euros for Kandia chocolate?

The sale of Cadbury chocolate producer's Romanian operations, set to be this year's biggest deal on the sweets market, is poised to be sealed in three months at the latest, with several multinationals and foreign investment funds now running in the race, market sources told ZF. While more than 5-6 names had been initially mentioned on the list of interested buyers, chances of the deal being sealed at a value of more than 50m euros are slim. This value accounts for half of the sum Cadbury paid in 2007 to acquire Kandia-Excelent, a company that subsequently became Cadbury Romania. "Given the current context, the deal is likely to revolve around 50m euros," says an M&A consultant. Other market sources value the company, with 33m-euro sales in 2008, at 30-50m euros. The names mentioned as possible buyers that started talks with Kraft include Hershey, Nestle, Ülker, as well as large investment funds, such as Advent or Mid Europa Partners. "We're still seeking a buyer for Cadbury Romania. At this moment, we have nothing to announce," stated the representative of Kraft Foods Romania, Kandia's current owner.