GROUPE CPK (CARAMBAR POULAIN KREMA)
Acquired by
FERRARA CANDY COMPANY
GROUPE CPK (CARAMBAR POULAIN KREMA) acquired by FERRARA CANDY COMPANY
Target
GROUPE CPK (CARAMBAR POULAIN KREMA)
Acquirer
FERRARA CANDY COMPANY
Context
Ferrero, through its subsidiary Ferrara Candy, entered into exclusive negotiations to acquire 100% of CPK from Eurazeo. For Eurazeo, this marks the end of an 8-year investment cycle where it successfully regrouped heritage brands into a standalone French champion. For Ferrero, this acquisition bolsters its presence in the European sugar confectionery market and provides a strong industrial base in France. The transaction is expected to close in Q4 2025.
GROUPE CPK (CARAMBAR POULAIN KREMA), which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a level LOGIN the 10.1x average currently observed in the AgriFood sector.
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Target
CPK is a French confectionery leader created in 2017 following the carve-out of 14 iconic brands from Mondelez. The portfolio includes household names such as Carambar, Poulain, Krema, Lutti (acquired in 2018), Michoko, Malabar, and Terry's. The group operates three production sites and one workshop in France, employing over 900 people.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with GROUPE CPK (CARAMBAR POULAIN KREMA)
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 05/2017 | EURAZEO | GROUPE CPK (CARAMBAR POULAIN KREMA) | FRANCE | Food Products | Following an 18-month "marathon" process, Eurazeo acquired a portfolio of 14 brands from the US giant Mondelez. Eurazeo outbid PAI Partners and Katjes by proposing a robust industrial project. The transition required the creation of a new HQ, recruiting 230 people for corporate functions, and an ambitious EUR35M industrial investment plan—including the repatriation of Terry's production from Poland to Strasbourg. The goal was to transform these "orphan brands" into an autonomous French champion by tripling marketing spend and targeting a 15% EBITDA margin within 5 years. |
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