M&A Deal Summary

Natra Acquires Gudrun Group

On October 1, 2024, Natra acquired food company Gudrun Group from Down 2 Earth Capital

Acquisition Highlights
  • This is Natra’s 1st transaction in the Food sector.
  • This is Natra’s 2nd transaction in Belgium.

M&A Deal Summary
Date 2024-10-01
Target Gudrun Group
Sector Food
Buyer(s) Natra
Sellers(s) Down 2 Earth Capital
Deal Type Add-on Acquisition

Target

Gudrun Group

Lier, Belgium
The Gudrun Group is a major player in the development, production, packaging, and marketing of genuine Belgian chocolates and truffles. The international player primarily produces for private labels of large retailers but is also known for the brands Chocolissimo, Grand, and Miss Gavarny. Gudrun Group is based in Lier, Belgium.

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Buyer(S) 1

Buyer

Natra

Madrid, Spain
Category Company
Founded 1943
Sector Food
DESCRIPTION

Natra is a Spanish multinational company specializing in producing chocolate products for the private label brand and other food companies, as well as in cocoa derivatives. The company’s consumer goods division is responsible for the manufacturing of chocolate tablets, countlines, spreads and Belgian chocolates and specialties, which are commercialized mainly in Europe, with Germany, France, Belgium, Holland, Spain and United Kingdom as main markets. Natra was founded in 1943 and is based in Madrid, Spain.

DEAL STATS #
Overall 2 of 2
Sector (Food) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Belgium) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-15 All Crump NV

Malle, Belgium

All Crump NV manufactures and sells chocolate and hazelnut bread spreads, as well as chocolate fillings. The company also offers dessert sauces and aerated spreads.

Buy -

Seller(S) 1

SELLER

Down 2 Earth Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Down 2 Earth Capital is a private equity firm focused on investing in and acquiring profitable (€2 to €10 million of EBITDA) Belgium-based companies. D2E does not have any stated sector preferences and will consider a variety of transaction situations including family successions, buyouts/buy-ins, non-core divestitures, growth capital financings, and recapitalizations. Down 2 Earth Capital was established in 2013 and is headquartered in Antwerp, Belgium.

DEAL STATS #
Overall 4 of 4
Sector (Food) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Belgium) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-03 Golden Care

Valkenswaard, Netherlands

Golden Care is a global provider of eco-friendly cleaning and (color) protection products for outdoor furniture in a wide range of materials such as teak, fabric, and wicker. Golden Care was founded in 1996 and is based in Valkenswaard, Netherlands.

Buy -
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