SPAIN: Cacaolat receives six bids ahead of IPO
Cacaolat's IPO is expected in the coming months
Cacaolat has received six takeover bids for its business ahead of a planned initial public offering this Spring.
The owner of the Spanish chocolate shake firm, conglomerate Nueva Rumasa, said today (12 May) that the offers show the company's “great value” and that Cacaolat will bear them in mind during the deal's pricing, which is expected to value the franchise at EUR180m (US$228.5m).
With annual sales of EUR100m, Cacaolat recently expanded into other food lines, launching a chocolate cookie line. The brand was recently spun off from Rumasa´s milk company Clesa to facilitate the IPO.
Small investment boutique Asesores Financieros Internacionales is managing the flotation.
Nueva Rumasa is a major food and industrial holding in Spain.
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