Leaf sold two factories (France & Belgium) to Nimbus & Varova

The Belgian and French subsidiaries of Leaf International have been sold to Nimbus, Varova and management.

Leaf International, the former Sugar Confectionery division of CSM, was owned by CVC Partners and Nordic Capital.

Leaf France and Leaf Belgique operate on the bagged candy market for both children and adults. Products are sold under the Lutti brand and under private labels. The companies post sales of approximately Euro 100 million and employ a total of 600 people on two industrial sites.

The new shareholders and the management are keen to develop the companies’ activities on their historical markets as well as on new high potential niches, simultaneously reviving the Lutti brand.

Our French Close Brothers International partner, Close Brothers Paris, acted as advisor to Leaf and liaised with PhiDelphi in this transaction.

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