Idilia Foods strike a deal to buy 50% of Cacaolat from Damm
The transaction will make it possible to jointly manage leading brands such as Cacaolat, Laccao, ColaCao Energy, ColaCao Shake and Okey, consolidating the strong position of both companies in the milkshakes market
Idilia Foods and Damm have announced an agreement for the acquisition of 50% of Cacaolat by Idilia Foods. This agreement will create Spain’s largest milkshakes group. The transaction is pending approval of Spain’s National Commission on Markets and Competition (CNMC).
Thus, in addition to their iconic brands –Cacaolat, Letona and Laccao– Cacaolat will also assume the management, marketing and distribution of the shakes brands ColaCao Energy, ColaCao Shake and Okey. A commitment that will enable the company to drive the development of the shakes category and the presence of these brands in the national and international markets.
At the production level, the agreement maintains the production of the Cacaolat-brand products at the company’s plant located in Santa Coloma de Gramanet, Barcelona.
Cacaolat will continue to operate independently under the management team led by their CEO, Josep Barbena. The goal is to further accelerate the growth of the milkshakes market at a national and international level.
In 2023, the Cacaolat Group invoiced 82 million euros, representing a growth of 12.8% vs. 2022, and they employed 225 persons. Since 2019, the company has implemented a transformation and growth plan with excellent results, based on 5 key levers: people, business excellence, innovation - digital transformation, sustainability and internationalisation.
Since the company’s founding in 1933 in Barcelona, Cacaolat has become the most relevant milkshakes brand, reaching national leadership status and being the best-selling brand in Spain. In addition, in the past few years, they have had an internationalisation plan in place that has enabled them to be present in over 30 countries. Part of the success of this growth is attributed to the inauguration in 2013 of their production centre in Santa Coloma de Gramanet, whose facilities have the most modern and efficient technology to guarantee compliance with the highest standards of quality.
