Nutkao expands in Europe with Belgian acquisition

Nutkao expands in Europe with Belgian acquisition

Daniel Peeters, Federico Fulgoni, Giuseppe Braida and Marcel Peeters

Nutkao S.r.l. — an Italian company and leading International Contract Manufacturer that has been creating and producing private-label creams and chocolate for over 30 years — is accelerating its expansion plan thanks to its acquisition of Belgian company Boerrineke S.V.

Present on the market for over 70 years and based near Antwerp, Boerrineke is the second brand of chocolate spreads from Belgium with around 14 million euros in turnover and with a distribution network that is strongly rooted in the country and throughout Northern Europe.

The Boerrineke acquisition is part of Nutkao’s strategic commercial and production development plan for Europe specifically focusing on the markets of the Netherlands, Belgium, France, and Germany, where the Piedmont-based group has had very positive feedback.

Appointed as co-CEOs to lead the company are brothers Daniel and Marcel Peeters, who recently joined Nutkao Group: Daniel is the director of Retail Sales for Nutkao and Marcel is the director of Industry and Food Service Development in Europe.

“Boerinneke is a strategic acquisition for the Group that consolidates its growth in Europe where customers know and recognise the quality of Nutkao products. Boerrineke has an important presence on the Belgian market, which is universally recognised for the quality and mastery of its chocolate making process. Furthermore, with the arrival of Daniel and Marcel in Nutkao, it was natural for us to foresee their direct involvement as co-CEOs of Boerrineke, for a new corporate structure that strengthens the dialogue and relations with local markets. In line with the group strategy, Boerinneke is part of the vision of specializing more and more products and services, while respecting the values of each local business. With Italy, Ghana, Belgium, and the United States, the Group is currently focusing on the extensiveness and integration of the supply chain that captures and maintains the uniqueness and history of each place in which we do business. With this acquisition, the Group has added new skills and an industrial platform even closer to reference markets and the needs of consumers and industrial clients,” said Federico Fulgoni, CEO of Nutkao.

Local distribution and a strong bond with the territory are the watchwords in Nutkao, a group that since 2015 has launched a strong expansion campaign always for the purpose of appreciating and better promoting local resources. After the first plant was opened in North Carolina (US) for the production of creams for American retail and industry, a production plant was inaugurated in 2018 in Accra, Ghana, that exclusively processes premium cocoa beans from Ghana. To date Nutkao Group, with headquarters in Canove di Govone in Piedmont, distributes its products to 80 countries worldwide, reaching all continents.

Boerrineke is now a wholly owned subsidiary of Nutkao, bringing its know-how and centenary tradition of Belgian chocolate to Piedmont.

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