Idilia Foods Acquires 50% Stake in Cacaolat to Boost Global Presence
Source: The DairyNews
In a strategic move to expand its footprint in the dairy drinks sector, Spain's Idilia Foods has acquired a 50% stake in the renowned local dairy-drinks producer Cacaolat. The transaction, executed for an undisclosed amount, was confirmed in a joint statement by Idilia and beer giant Damm, the previous sole owner of Cacaolat.
The agreement, pending approval from Spain's National Markets and Competition Commission, will see both companies jointly managing Cacaolat. This iconic brand, established in 1933, is known for its namesake dairy drink, Letona milk, and Laccao chocolate milk, and it generated a turnover of €82 million ($88.1 million) in 2023, marking a 12% increase from the previous year.
Idilia Foods, which boasts a robust portfolio including ColaCao, Paladin drinking chocolate, Okey milkshakes, and the popular chocolate spread Nocilla, aims to leverage this acquisition to enhance Cacaolat's market reach both domestically and internationally. The production of Cacaolat's products will continue at its Catalonia plant in north-east Spain, under the continued leadership of General Director Josep Barbena.
This partnership is poised to strengthen the presence of Cacaolat’s brands across more than 30 countries, aligning with Idilia's strategic goals to cement its position in the global dairy drinks market.
Idilia Foods, which boasts a robust portfolio including ColaCao, Paladin drinking chocolate, Okey milkshakes, and the popular chocolate spread Nocilla, aims to leverage this acquisition to enhance Cacaolat's market reach both domestically and internationally. The production of Cacaolat's products will continue at its Catalonia plant in north-east Spain, under the continued leadership of General Director Josep Barbena.
This partnership is poised to strengthen the presence of Cacaolat’s brands across more than 30 countries, aligning with Idilia's strategic goals to cement its position in the global dairy drinks market.
