Kraft Foods Inc. has found a buyer for Romanian confectioner Kandia-Excelent, as part of the European Commission’s requirements for Kraft’s acquisition of Cadbury. In order for the acquisition to be approved, Kraft was required to sell both Kandia-Excelent and Cadbury’s E Wendel operation in Poland. Oryxa Capital purchased Kandia-Excelent. The sale includes a Bucharest manufacturing plant and Romanian brand names Kandia, Laura, Magura, Rom, Sugus, and Silvana.
Bucharest-based Kandia-Excelent is the second-largest confectioner in Romania, producing chocolates, soft cakes, and sugar confections. In 2007 the company held a total market share of 20%, but a market-leading 32% of the candy sector. The company was owned by Meninl bank prior to Cadbury’s takeover in 2007. Kandia-Excelent employs 850 at it’s only production facility.
Oryxa Capital is a U.K.-based, international investment fund.