Management Buyout Speculation at Green & Black’s
January 18
12:13
2011
Management at Green & Black’s, the UK-based organic chocolate manufacturer, are reported to be seeking a buy-out of the business from owner Kraft Foods. The US food group acquired Green & Black as part of its £11.7b takeover of Cadbury last year.
Founded by entrepreneur Craig Sams in 1991, Green & Black’s was sold to Cadbury for £20m in 2005. Green & Black’s has an annual turnover of about £40m compared to Kraft’s UK chocolate sales of £1b.
However, in response to media speculation, Kraft Foods has said that it has no current plans to sell Green & Black’s. “Here in Europe, we will continue to invest behind growing and optimising the entire chocolate portfolio,” says Michael Clarke, president of Kraft Foods Europe.
