German chocolate manufacturer Gubor Group plans to issue a corporate bond through its parent Gubor Schokoladen, to raise up to €60m ($64m).
After recent acquisitions and investments in production capabilities, the branded and private-label company is entering the “capital market for the first time”, according to a statement.
Go deeper with GlobalData
The proceeds from the bond will be allocated toward repaying existing bank loans and to fund the recent acquisition of Hans Riegelein & Sohn.
Gubor Schokoladen’s CEO and managing partner Claus Cersovsky said: “In the past, we have been able to grow continuously through strategic acquisitions, expand our product range in a targeted manner and utilise economies of scale.
“By issuing the corporate bond, we want to further strengthen our market presence, especially in the area of seasonal private-label chocolate, and secure our position in the long term.”
Cadolzburg-based Hans Riegelein & Sohn is focused on seasonal chocolate products made out of six production plants. Founded in 1953, the company supplies markets across Europe, as well as North America, Australia, South Africa and Japan.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIt generates around €260m in annual sales.
The indicative range for the Gubor fixed rate five-year bond, maturing in 2029, has been set at 7.5% to 8.5%. The final rate will be announced after a bookbuilding process, which is expected to conclude on 27 November.
Gubor said the bond is targeted at institutional and retail investors, as well as asset managers. The notes will be marketed in Germany, Austria, and Luxembourg, with a private placement for qualified investors in select European countries.
With annual revenues of around €312m, Gubor is a family-owned chocolate producer for markets in Europe.
The company’s product range includes seasonal chocolate items, year-round confectionery, and a variety of sweets and beverages.
Gubor’s five brands – Riegelein, Sun Rice, Gubor, Friedel, and Eichetti – are manufactured across six facilities in Germany and Poland. Its products are distributed in approximately 50 countries, with Germany being the core market.
