Investments and new products point to sweet times ahead for Carambar
Total investment: €35 million
In 2017 investment company Eurazeo merged 14 recently acquired confectionery brands into CPK Group, with Carambar & Co as a wholly-owned operating subsidiary. Investments totaling €35 million will be divided among five production sites, including Carambar’s plant in Hauts-de-France. By 2020, CPK expects 100% of its products to be “Made in France”, and the Group has set its 5-year target for organic growth at 20%.
New flavors ahead for Carambar
Carambar now accounts for 10% of consolidated revenue, making it CPK’s No. 2 brand. Given its iconic status, it stands to receive a large share of the total €35 million investment package. Sales have jumped nearly 7% over the past four months, with a further rise anticipated in 2018. Drivers are new flavors in the pipeline—vanilla, salted caramel and chocolate hazelnut—and a new line of sour candies sold under the X’trem brand.
But CPK’s 100% made-in-France push doesn’t mean lowering the group’s international profile, says CPK chairman Thierry Gaillard. On the contrary. “It’s early days, and there’s a lot we plan to do,” notes Gaillard. “While we haven’t ruled out terminating some brands, there’s no reason not to envision Carambar being exported to new markets in Europe or in North America.”
Learn more about food industry in Hauts-de-France. Sources: Eurazeo, La Voix du Nord, Les Echos