Kandia Dulce SA (Romania)

Excelent SA took shape in 19 February 1991, from the former the Sugar Products Entreprise that was founded in 1948. On September 9th 2004 the company merged with Kandia, from which Excelent owned already 62% stake; the main shareholder of the newly created company, KANDIA - EXCELENT SA, was Axis Investments Limited (84.16%). In April 2006, the Austrian bank Meinl Bank became also a shareholder by acquiring 9.16% stake in it. At the beginning of June 2007, Kandia Excelent SA takes over for EUR 10 mn. the sugar products line from Kraft Foods, the transaction hinting to various equipment and Silvana and Sugus trade marks. In the same month, Vantas International LTD fund, controlled by the British Group Cadbury Schweppes, acquired 93.3% stake in Kandia Excelent for EUR 99.4 mn. At the beginning of November 2007, Vantas International bought on the taking over public offer another 2.4% stake, for which it payed RON 8.4 mn. (EUR 2.4 mn.)
After Kraft-Cadbury merger, Kraft sold Kandia business to ORYXA MALTA HOLDINGS LIMITED investment fund which is controled by Julius Meinl - initial owner of Kandia.
Note: Kandia Excelent was quoted on Bucharest Stock Exchange from September 1998 until February 2008, under EXC symbol.