Moroccan Royal Group Acquires Italian Spread Maker Nutkao, Challenging Nutella
– byPrince@Bladi
· 1 min read
The Al Mada group, belonging to the Moroccan royal family, has announced the acquisition of Nutkao, the Italian food company specializing in the production of cocoa, milk and hazelnut spreads, a direct competitor of Ferrero and its Nutella.
The operation was carried out through Teralys, a subsidiary of Al Mada. According to Teralys sources, the acquisition of "one of the main European players in the transformation of cocoa and vegetable proteins" is "fully in line with its investment strategy in the long-term structuring of projects for the
Category: Morocco
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