Green & Black's bosses eye management buyout
Published 18/01/2011 | 08:00
Organic chocolate maker Green -amp; Black's is looking to buy itself out of US food giant Kraft following the Cadbury takeover last year.
Bosses at Green -amp; Black's are hoping to secure a management buyout or to hive themselves off under a different ownership structure as they struggle to retain their entrepreneurial spirit as part of Kraft.
Kraft Foods is the world's largest chocolate company with many of the world's favourite brands including Cadbury, Milka, Toblerone and Cote d'Or.
It is thought that Green -amp; Black's approached Kraft with an initial proposal to spin-off from the firm at the end of last year, but the approach was reportedly rejected.
Cadbury bought Green -amp; Black's six years ago for an estimated £20m.
Green -amp; Black's was founded as an ethical fairtrade and organic chocolate firm in 1991 by Whole Earth Foods entrepreneur Craig Sams and his wife, Josephine Fairley.
It started off with a bittersweet dark chocolate bar, made with 70% cocoa solids, before branching out into different flavours.
Kraft Foods said it had no current plans to sell Green -amp; Black's.