Swiss confectionary manufacturer Chocolat Frey has moved to strengthen its presence in North America by acquiring candy-maker SweetWorks Inc.
Frey made the announced yesterday, and explained that transaction took affect retroactively as of 1 January 2014.
A spokesperson for the Swiss company told Confectionarynews.com the business models of the two companies complemented one another.
"Take chewing gum for example. SweetWorks is very strong in the sugar-based gumboil segment, but rather weakly positioned in the case of sugar-free chewing gum. On the other hand, sugar-free gum is one of Frey's strengths," the spokesperson noted.
SweetWorks offers a variety of chocolate and chewing gum products, including Sixlets and Niagara Chocolates. It also co-manufactures product for other confectionery brands in North America.
It operates a production plant in Buffalo, with about 200 employees, and owns a subsidiary, Oak Leaf Confections Co., in Toronto that employs around 250 workers.
US chocolate sales continue to be very strong, making that particular confectionery category one marked by growth.
© 2014 - European Supermarket Magazine by Enda Dowling
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