Oryxa Capital buys local confectionery maker Kandia Excelent from Kraft Foods

Kraft Foods has sold Romanian soft cake and sugar confectionery business Cadbury's Kandia-Excelent to Oryxa Capital, an international investment fund, for an undisclosed sum. The sale includes Kandia-Excelent brands, such as Rom, Magura, Kandia, Laura, Sugus and Silvana, related trademarks and the manufacturing facility in Bucharest. Approximately 530 Cadbury Romania employees work for Kandia-Excelent. Kraft Foods will retain the Cadbury international brands, including Halls candy. This sale follows the European Commission's decision to approve Kraft Foods' acquisition of Cadbury plc conditioned on the sale of the Cadbury Kandia-Excelent chocolate and soft cake business and Cadbury's E. Wedel business in Poland, which was announced on June 28. Kraft Foods had bought Cadbury for GBP 11.9 billion in January this year. Cadbury had invested in local Kandia Excelent in 2007 from Axis Investments and Meinl Bank in a deal worth EUR 99.4 million.