Hazelnut Cream Giant Nutkao Reportedly Available for Acquisition! Nutcao, an Italian company that extracts hazelnuts for other products, could sell a majority stake, about 80%. The story comes from Corriere della Sera.
Nutcao was started in 1982 by Giuseppe Braida, who previously worked for Ferrero, the company best known for Nutella. Nutcao is doing well financially, so many companies are interested in buying it.
Interested buyers include German companies such as Barony and France’s Andros. The Spanish company Natra is also interested. Lindt, known for its chocolates, is also interested because Nutcao supplies chocolates to some of its companies.
Institutional investors such as Towerbrook and Bain are also considering buying Nutcao as it is financially viable.
Natkao is majority-owned by White Bridge Investments, but the Brada family still owns 20% and runs the company.
Nutcao generates a lot of revenue, about 340 million euros a year, mostly from sales outside Italy. They also make good profits, around €40 million. They have offices not only in Italy but also in the United States.
The company might be worth more than €500 million, according to the people helping with the sale.
Nutkao is in Govone, near where Nutella was invented. Unlike Nutella, Nutkao only makes spreads for other companies, not for itself.
Ferrero, the company that makes Nutella, had a good year in 2023, making €17 billion in revenue because they grew and bought other companies. For more information, visit https://nutkao.com/en/made-in-italy/
Read about: O-I Glass Joins Sustainable Wine Roundtable for Global Sustainability