Key Takeaways
- Sector: Consumer.
- Geography: France.
Analysis
Eurazeo and Ferrara today announced the completion of the sale of CPK Group to the European holding company of Ferrara. The transaction, announced in July 2025, combines two confectionery leaders.
The transaction is set to generate approximately €240 million, including dividends already received. The deal represents the fifth consecutive strategic sale by Eurazeo Capital, reflecting the firm’s success in building and positioning European champions.
CPK was formed in 2017 through the carve-out of 14 brands from Mondelez, and further strengthened by the acquisition of Lamy Lutti in 2018. Today, it is a diversified confectionery platform with a brand portfolio that includes Carambar, Krema, Lutti, Michoko, Terry’s, Poulain, and 1848.
The company operates three production sites and a workshop in France and employs more than 900 people. Under Eurazeo’s ownership, CPK has grown in scale, modernized its operations, and solidified its market position across France and broader Europe.
Amandine Ayrem, Partner at Eurazeo Capital, commented: “This potential sale confirms the validity of Eurazeo Capital’s mandate—to build leaders with a clear and strong strategic positioning.”
Marc Auclair, President of CPK, added: “We are excited about the opportunity to build on our success with a company that values our roots and everything we have created.”
The deal is subject to competition clearance and completion of the employee consultation process.
Context: Similar Strategic Transactions in the Confectionery Sector
Eurazeo’s sale of CPK follows a broader wave of cross-border consolidation in the sweets and snacks industry, particularly involving U.S. buyers looking to strengthen their European presence:
- Ferrero Group acquired the global snack business of Kellogg’s in 2023 for $1.3B.
- Mars Inc. acquired Trü Frü and previously bought Kind Snacks.
- Perfetti Van Melle bought Mondelēz’s gum business in 2023 for $1.35B.
- L Catterton exited its investment in Russell Stover after a turnaround led to Lindt’s full acquisition.
Ferrara Candy Company, owned by Ferrero, is expanding its European presence. The CPK acquisition strengthens its portfolio in France and supports broader regional growth strategies.