The Moroccan investment fund Al Mada, with significant ties to the Moroccan royal family, has announced its acquisition of Italian food company Nutkao.
Founded in 1982
This deal positions Nutkao as a prominent player in the food market, specializing in chocolate and milk spreads, and ranks second in the Italian market, just behind the renowned Ferrero Group, known for its popular Nutella.
Valued at approximately €450 million (around $480 million), the acquisition is pending administrative approvals before it is finalized.
Founded in 1982, Nutkao has grown into a multinational corporation dedicated to producing and distributing products derived from cacao, hazelnuts, and pistachios, according to 20minutos.
The company operates production facilities in Italy, Belgium, and the United States, and it also maintains a cocoa processing unit in Ghana.
Available in 80 Countries Worldwide
Nutkao’s extensive product range is available in 80 countries worldwide, and the company is recognized for its commitment to innovation and staying ahead of consumer trends.
The acquisition by Al Mada is seen as a strategic move to strengthen its portfolio in the agri-food sector and expand its reach in international markets.
The partnership not only enhances Nutkao’s production capabilities but also provides Al Mada with a foothold in the competitive food industry, particularly in the lucrative chocolate spread market.
As consumer preferences evolve, Nutkao’s focus on innovation and quality is expected to align well with Al Mada’s strategic vision.
