Portugal’s leading chocolate producer Imperial has been sold to Spanish company Chocolates Valor.
The Vallis Sustainable Investments I Fund and Chocolates Valor announced the sale of 100% of their shares in the business, as part of a divestment strategy being undertaken by Vallis Sustainable Investments, generating liquidity for its investors.
The transaction, the value of which was not revealed, is expected to get the green light from Portugal’s Competition Authority in the coming weeks.
With a turnover of €33 million, Imperial generates around a quarter of its sales from exports to 45 countries.
Imperial is a leading brand in Portugal in the culinary segment, having well-known brands such as Pantagruel, Regina and Jubileu in its portfolio, all produced at its factory in Villa do Conde.
Since a change of ownership in 2015, the Vallis fund has invested over €16 billion in the company to boost production capacity and for brand promotion.
Based in Villajoyosa (Alicante), Chocolates Valor exports its products to over 60 countries, ending the 2o20 financial year with a turnover of €138 million. In Spain, it is the sales leader in the dark chocolate segment and ranks second in the tablet segment.
The company has production plants in Villajoyosa and Ateca and a network of 36 shops, of which six directly-owned and the rest are franchised in Spain and Andorra.
With the purchase of Imperial, Alicante-based Chocolates Valor completes its first international acquisition and reinforces its position in the Iberian chocolate sector.