maconda advises United Chocolate on the acquisition of Argenta, a manufacturer of chocolate specialties with a traditional regional brand and an innovative product range
maconda News April 2018
At the turn of the year 2017/18, maconda consultants supported United Chocolate GmbH with a Commercial Due Diligence during the acquisition of Argenta, a successful chocolate manufacturer from Saxony-Anhalt. The experienced Cologne consultants thus contributed to the development of a mid-sized chocolate group. maconda contributed its extensive expertise in food, including confectionery, in retail, as well as in private label and promotional business.
Argenta, which has existed since 1935, is a manufacturer of innovative chocolate specialties and seasonal chocolate-based products. Argenta’s customers are primarily the leading food retail and discount chains. The products are offered partly under the company’s own Argenta brand and partly as retailer private labels. The company benefits from the good reputation of its established regional products as well as from innovative products and packaging, through which new offers are regularly brought to market.
The product range includes traditional products that are very well known in East Germany, such as the “Brockensplitter,” as well as seasonal promotional goods. In addition, Argenta offers high-quality pralines in attractive packaging, which are otherwise only found with brand manufacturers at a higher price point.
The Commercial Due Diligence included a targeted analysis of Argenta’s business model and the relevant chocolate market, as well as Argenta’s positioning in the very broad, non-transparent competitive landscape. In addition, the maconda experts examined, among other things, the broad customer portfolio, the effects of fluctuations in raw material prices, and assessed the company’s business plan.
The transaction was structured by DPK Deutsche Privatkapital; family offices from Luxembourg and Germany participated as anchor investors.