The agreement relates only to the chocolate unit of the plant in Ateca, Zaragoza. Mondelez will maintain candy and gum operations at the plant with the Respiral brand, but will move production to Valladolid after the sale.
Unsolicited offer
A Mondelez spokesperson told this site: “Initially, we hadn’t considered selling the brands. We received expressions of interests including the plant and the brands. After exploring them, we decided it was the best solution, both for the company and for the Ateca plant.”
107 people work at the factory. Chocolates Valor will retain workers for the plant’s chocolate operations. Mondelez will begin a consultation period with candy and gum workers through the Works Council and will propose relocation, early retirement offers and separations.
The sale is set to be finalized after the summer. Brands will continue to be operated by Mondelez until the sale is complete.
Valor moves into chocolate snacks
The acquisition marks premium tablet manufacturer Chocolates Valor’s first move into chocolate snacks.
“This acquisition will allow the company to reinforce its positioning among younger consumer targets thanks to the strength of both brands,” said the company in a statement.