Nutkao has acquired 100% of Boerinneke, a leading Belgian producer of chocolate and hazelnut spreads, enhancing its portfolio and market position in Belgium.

Target Company Overview

Nutkao, a portfolio company of White Bridge Investments, is a leader in the production of hazelnut and chocolate spreadable creams. The company markets its products across retail, gourmet, and industrial channels. Recently, Nutkao has successfully acquired 100% ownership of Boerinneke, a premier Belgian company known for its chocolate and hazelnut spreadable creams sold under its own brand as well as private labels.

Founded in 1955 in Sint-Amands, Belgium, Boerinneke has established a strong presence in the sweet spreads industry. The company specializes in creating a diverse range of products, encompassing over 150 recipes, including chocolate spreads, hazelnut-based spreads, and cookie butter (speculoos). Boerinneke is particularly recognized for its commitment to producing organic, low sugar, and protein-enriched spreads. The brand stands as the second most popular in Belgium after Nutella, further solidifying its position in the market.

Industry Overview in Belgium

The Belgian spreadable creams market has experienced significant growth in recent years, driven by an increasing demand for both indulgent and health-conscious products. Consumers are becoming more selective about the ingredients in their food, le