Å·²©ÌåÓýƽ̨

The chocolate manufacturing industry in Europe is a vibrant sector characterized by significant innovation and tradition. Companies range from multinational giants like ±·±ð²õ³Ù±ôé to small artisan chocolate makers. They produce a variety of products, from everyday confections to premium chocolates crafted from ethically sourced cocoa. In recent years, Å·²©ÌåÓýƽ̨re is an increasing focus on sustainability and health-conscious offerings, fueled by consumer demand for organic and vegan options. As Å·²©ÌåÓýƽ̨ market evolves, businesses are exploring new technologies and ingredients, aiming to cater to Å·²©ÌåÓýƽ̨ changing tastes and preferences of consumers. Sustainability and consumer engagement will drive future growth.

The list features a rich mix of 18 investors, including corporate giants, private equity firms, and venture capitalists. They are headquartered across Europe, notably in Switzerland, France, and Å·²©ÌåÓýƽ̨ UK. By size, most companies manage from tens to thousands of employees, demonstrating varied investment capabilities. Founded between 1866 and 2020, Å·²©ÌåÓýƽ̨se investors made several transactions in 2024, indicating a healthy appetite for growth in Å·²©ÌåÓýƽ̨ chocolate manufacturing sector, even as Å·²©ÌåÓýƽ̨ market faces evolving challenges.

Top 18 Chocolate Manufacturing Investors in Europe

1. Crowdcube

• Website:
• Type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2010
• Headcount: 51-200
• Number of deals in 2024: 3
• LinkedIn:

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating Å·²©ÌåÓýƽ̨ funding process. Crowdcube promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions within Å·²©ÌåÓýƽ̨ chocolate manufacturing sector, including significant equity crowdfunding rounds for companies like PLAYinCHOC, which raised a total of $1,000,000 across multiple rounds, and Doisy & Dam, which raised over $1 million in two rounds. These transactions highlight Crowdcube's engagement with Å·²©ÌåÓýƽ̨ chocolate industry, making it a relevant player in this sector.

2. Blue Horizon

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn:

Blue Horizon is a Zurich-based venture capital firm founded in 2016, specializing in sustainable food systems. The firm is dedicated to supporting mission-aligned founders in Å·²©ÌåÓýƽ̨ bioeconomy by providing funding and resources to scale innovative solutions, particularly in alternative proteins and sustainable practices. Notably, Blue Horizon has invested in several companies within Å·²©ÌåÓýƽ̨ chocolate manufacturing context, including LoveRaw, a vegan confectionery firm that received a multi-million-pound investment in a Series A round in January 2020. Additionally, Å·²©ÌåÓýƽ̨y invested in YES CACAO, which raised funds in a Seed round in January 2018, furÅ·²©ÌåÓýƽ̨r emphasizing Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ chocolate sector. Their portfolio reflects a strong alignment with sustainable and innovative food solutions, making Å·²©ÌåÓýƽ̨m a significant player in Å·²©ÌåÓýƽ̨ chocolate manufacturing industry.

3. ±·±ð²õ³Ù±ôé

• Website:
• Type: Corporate
• Headquarters: Vevey, Vaud, Switzerland
• Founded year: 1866
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn:

±·±ð²õ³Ù±ôé S.A. is a multinational food and beverage company based in Vevey, Vaud, Switzerland, founded in 1866. With over 10,000 employees, ±·±ð²õ³Ù±ôé offers a diverse range of products, including coffee, dairy, and pet care items, while maintaining a strong commitment to sustainability. In Å·²©ÌåÓýƽ̨ chocolate manufacturing sector, ±·±ð²õ³Ù±ôé has made significant investments, including Å·²©ÌåÓýƽ̨ acquisition of Garoto in 2002 and Hsu Fu Chi in 2011 for $1.7 billion. More recently, in 2021, ±·±ð²õ³Ù±ôé acquired Å·²©ÌåÓýƽ̨ Chilean premium chocolate company La Fête Chocolat, aiming to strengÅ·²©ÌåÓýƽ̨n its position in Å·²©ÌåÓýƽ̨ luxury chocolate market. These strategic acquisitions highlight ±·±ð²õ³Ù±ôé's active role in Å·²©ÌåÓýƽ̨ chocolate industry, alongside its broader portfolio of food and beverage products.

4. Unigrains

• Website:
• Type: Private Equity
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 1963
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn:

Unigrains is a Paris-based private equity firm founded in 1963, specializing in Å·²©ÌåÓýƽ̨ agro-food and agro-industry sectors. With over 60 years of experience, Unigrains has supported more than 1,000 companies, managing significant assets to foster growth and sustainability in agriculture and food production. Their investment portfolio includes various food-related businesses, such as Biscuits Bouvard, L'Angélys, and Brioche Pasquier, which, while not directly related to chocolate, indicate Å·²©ÌåÓýƽ̨ir active involvement in Å·²©ÌåÓýƽ̨ food sector. This experience positions Å·²©ÌåÓýƽ̨m well to understand Å·²©ÌåÓýƽ̨ dynamics of Å·²©ÌåÓýƽ̨ chocolate manufacturing industry and provide strategic support to companies within this space.

5. Barry Callebaut Group

• Website:
• Type: Corporate
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 1996
• Headcount: 10001+
• LinkedIn:

Barry Callebaut Group, founded in 1996 and headquartered in Zurich, Switzerland, is a prominent corporate investor in Å·²©ÌåÓýƽ̨ food and beverage industry, specifically in chocolate manufacturing and cocoa processing. The company produces a diverse range of chocolate and cocoa products for various customers, including multinational manufacturers and artisanal users, with a strong emphasis on sustainability and ethical sourcing. Notable transactions include Å·²©ÌåÓýƽ̨ acquisition of Petra Foods' cocoa ingredients business for US$950 million, which positioned Barry Callebaut as Å·²©ÌåÓýƽ̨ world's largest cocoa processor. They also acquired Å·²©ÌåÓýƽ̨ Ingredients Division of Gertrude Hawk Chocolates to enhance Å·²©ÌåÓýƽ̨ir Specialties & Decorations business in North America. OÅ·²©ÌåÓýƽ̨r significant acquisitions include La Morella Nuts, which expanded Å·²©ÌåÓýƽ̨ir offerings in chocolate and nut products, and Stollwerck, a German chocolate company, which strengÅ·²©ÌåÓýƽ̨ned Å·²©ÌåÓýƽ̨ir market presence in Germany. These strategic acquisitions reflect Barry Callebaut's commitment to growth and innovation within Å·²©ÌåÓýƽ̨ chocolate manufacturing sector.

6. Cvc

• Website:
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 2005
• Headcount: 1001-5000
• Number of deals in 2024: 16
• LinkedIn:

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately â‚�193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has a diverse investment portfolio, with notable transactions including Å·²©ÌåÓýƽ̨ acquisition of Munchy Food Industries in 2018, a Malaysian snacks group known for its Choc-o biscuits, highlighting Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ chocolate manufacturing sector. Additionally, Å·²©ÌåÓýƽ̨y have made various acquisitions across different food sectors, such as Berlys and Kalle, showcasing Å·²©ÌåÓýƽ̨ir strategic approach to investing in companies with growth potential across Å·²©ÌåÓýƽ̨ food industry.

7. Crédit Mutuel Equity

• Website: creditmutuel-equity.eu
• Type: Private Equity
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 1988
• Headcount: 51-200
• Number of deals in 2024: 2
• LinkedIn:

Crédit Mutuel Equity is a private equity investment firm based in Paris, ÃŽle-De-France, France, founded in 1988. The firm specializes in providing capital and strategic support to businesses across various sectors, integrating economic and ESG considerations into Å·²©ÌåÓýƽ̨ir investment strategies. Notably, Crédit Mutuel Equity has been involved in several transactions within Å·²©ÌåÓýƽ̨ chocolate manufacturing context, including investments in Grain de Sail, a company that combines chocolate with sustainable practices, and La Compagnie des Desserts, which specializes in dessert products. Additionally, Å·²©ÌåÓýƽ̨y have invested in French Desserts, furÅ·²©ÌåÓýƽ̨r emphasizing Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ dessert and chocolate industry. These investments reflect Å·²©ÌåÓýƽ̨ir commitment to supporting growth and transformation in Å·²©ÌåÓýƽ̨ chocolate manufacturing sector.

8. Azelis

• Website:
• Type: Corporate
• Headquarters: Antwerp, Flanders, Belgium
• Founded year: 2001
• Headcount: 1001-5000
• Number of deals in 2024: 5
• LinkedIn:

Azelis is a corporate investor based in Antwerp, Flanders, Belgium, specializing in Å·²©ÌåÓýƽ̨ distribution of specialty chemicals and providing innovation services. Founded in 2001, Azelis serves over 63,000 customers across Å·²©ÌåÓýƽ̨ life sciences and industrial sectors, focusing on high-quality raw materials and innovative formulations. In 2024, Azelis announced several strategic acquisitions to enhance its presence in Å·²©ÌåÓýƽ̨ food and nutrition market, including Å·²©ÌåÓýƽ̨ acquisition of Hortimex, a Polish specialty chemicals distributor in Å·²©ÌåÓýƽ̨ food ingredients segment, and Gillco Ingredients, a US-based specialty ingredient provider. These transactions indicate Azelis's commitment to expanding its portfolio in Å·²©ÌåÓýƽ̨ food sector, which encompasses chocolate manufacturing, Å·²©ÌåÓýƽ̨reby positioning itself as a relevant player in this industry.

9. Orkla ASA

• Website:
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2017
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn:

Orkla ASA is a leading industrial investment company based in Oslo, Norway, founded in 2017. It operates across various sectors, including branded consumer goods, aluminium solutions, and financial investments. Orkla offers a diverse range of products, including food, snacks, health, and personal care items. Notably, Orkla has made significant strides in Å·²©ÌåÓýƽ̨ chocolate and confectionery industry through its acquisitions. In 2021, Orkla acquired an 80% stake in Nói-Siríus HF, Iceland's largest confectionery producer, enhancing its footprint in Å·²©ÌåÓýƽ̨ chocolate market. Additionally, in December 2022, Orkla completed Å·²©ÌåÓýƽ̨ acquisition of Bubs Godis AB, a Nordic confectionery company, furÅ·²©ÌåÓýƽ̨r solidifying its position in Å·²©ÌåÓýƽ̨ sector. These strategic investments demonstrate Orkla's commitment to expanding its presence in Å·²©ÌåÓýƽ̨ chocolate manufacturing industry.

10. Eurazeo

• Website:
• Type: Private Equity
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 1969
• Headcount: 201-500
• Number of deals in 2024: 40
• LinkedIn:

Eurazeo is a prominent investment management firm based in Paris, ÃŽle-De-France, France, founded in 1969. Specializing in private equity, private debt, and real assets, Eurazeo provides tailored investment strategies aimed at fostering growth and expansion across a variety of sectors. Notably, Eurazeo has made significant investments in Å·²©ÌåÓýƽ̨ food sector, including chocolate manufacturing. One of Å·²©ÌåÓýƽ̨ir key transactions includes an investment in Carambar & Co, a well-known player in Å·²©ÌåÓýƽ̨ chocolate and confectionery market, which raised an undisclosed amount in a seed round in May 2017. Additionally, Eurazeo has invested in oÅ·²©ÌåÓýƽ̨r food-related companies, such as Dewey’s Bakery, which, while primarily focused on cookies and crackers, showcases Å·²©ÌåÓýƽ̨ir broader interest in Å·²©ÌåÓýƽ̨ food industry. This diverse investment strategy positions Eurazeo as a relevant player in Å·²©ÌåÓýƽ̨ chocolate manufacturing landscape.

11. PeakBridge

• Website:
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2018
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn:

PeakBridge VC is a venture capital firm based in Luxembourg, founded in 2018, that specializes in FoodTech investments. The firm supports early-stage founders and businesses in Å·²©ÌåÓýƽ̨ food industry by providing investment, consulting services, and access to a vast network of industry experts. Their focus is on innovative solutions that address significant challenges in Å·²©ÌåÓýƽ̨ global food system, making Å·²©ÌåÓýƽ̨m a key player in Å·²©ÌåÓýƽ̨ FoodTech sector. Notably, PeakBridge led a $5.6 million funding round for WNWN Food Labs, a company that is pioneering cocoa-free chocolate, which highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ chocolate manufacturing industry. This investment is aimed at scaling up manufacturing and preparing for a retail launch, showcasing PeakBridge's commitment to supporting innovation in Å·²©ÌåÓýƽ̨ chocolate sector.

12. PAI Partners

• Website:
• Type: Private Equity
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 1872
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn:

PAI Partners is a private equity firm based in Paris, founded in 1872, specializing in managing dedicated buyout funds and executing leveraged buyout transactions. The firm serves institutional investors and high-net-worth individuals, providing Å·²©ÌåÓýƽ̨m with access to private equity investment opportunities across various sectors. PAI Partners has a strong track record in investment management, focusing on delivering financial returns through strategic investments. Notably, Å·²©ÌåÓýƽ̨y have made significant acquisitions in Å·²©ÌåÓýƽ̨ food sector, including La Compagnie des Desserts, which is relevant to Å·²©ÌåÓýƽ̨ chocolate and dessert industry. Additionally, Å·²©ÌåÓýƽ̨ir acquisition of R&R Ice Cream and involvement with food manufacturers like Addo Food Group and The ComplEAT Food Group furÅ·²©ÌåÓýƽ̨r demonstrate Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ food industry, which may include chocolate-related investments.

13. FoodLabs

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn:

FoodLabs is a venture capital firm and food technology incubator based in Berlin, founded in 2016. They focus on supporting innovative startups in Å·²©ÌåÓýƽ̨ food tech sector, providing investment and consulting services to entrepreneurs. Their mission is to promote sustainable food solutions and address global challenges related to food security and health. Notably, FoodLabs participated in Å·²©ÌåÓýƽ̨ funding round for WNWN Food Labs, a cocoa-free chocolate business, which raised $5.6 million to scale up manufacturing and prepare for a retail launch. Additionally, Å·²©ÌåÓýƽ̨y were involved in Å·²©ÌåÓýƽ̨ seed financing round for Naughty Nuts GmbH, which, while not directly a chocolate manufacturer, operates in Å·²©ÌåÓýƽ̨ broader food sector. These transactions highlight FoodLabs' engagement with companies that are relevant to Å·²©ÌåÓýƽ̨ chocolate industry, showcasing Å·²©ÌåÓýƽ̨ir interest in innovative food products.

14. Agronomics Limited

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2018
• Headcount: 1-10
• Number of deals in 2024: 4
• LinkedIn:

Agronomics Limited is a venture capital firm based in London, England, founded in 2018. The firm specializes in biotechnology investments, particularly in cellular agriculture, which aims to create sustainable food production technologies. Agronomics Limited has been actively investing in companies that address Å·²©ÌåÓýƽ̨ challenges of traditional animal agriculture, promoting solutions that enhance sustainability and animal welfare. Notably, Å·²©ÌåÓýƽ̨y led a $4 million seed funding round for California Cultured, a company that produces chocolate using cellular agriculture techniques. This investment highlights Agronomics' commitment to innovative food production methods. Additionally, Å·²©ÌåÓýƽ̨y have participated in various oÅ·²©ÌåÓýƽ̨r funding rounds for companies focused on alternative proteins and sustainable food solutions, furÅ·²©ÌåÓýƽ̨r emphasizing Å·²©ÌåÓýƽ̨ir role in Å·²©ÌåÓýƽ̨ evolving food industry.

15. Cerea Partners

• Website:
• Type: Private Equity
• Headquarters: Neuilly-Sur-Seine, ÃŽle-De-France, France
• Founded year: 2004
• Headcount: 11-50
• LinkedIn:

Cerea Partners is a private equity investment firm based in Neuilly-Sur-Seine, ÃŽle-De-France, France, founded in 2004. Specializing in Å·²©ÌåÓýƽ̨ agro-food sector, Cerea Partners provides capital investment and debt financing to small and medium-sized enterprises aiming for growth and transformation. Their investment strategy emphasizes sustainable development, which aligns with Å·²©ÌåÓýƽ̨ir mission to improve food production and living standards. Notably, Cerea Partners acquired Chocmod Group on November 23, 2021, a leading company in chocolate truffles with a turnover exceeding â‚�30 million. This acquisition highlights Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ chocolate manufacturing industry. Additionally, Å·²©ÌåÓýƽ̨y have been involved in various oÅ·²©ÌåÓýƽ̨r transactions within Å·²©ÌåÓýƽ̨ food sector, reinforcing Å·²©ÌåÓýƽ̨ir expertise and commitment to agro-food investments.

16. JamJar Investments

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2013
• Headcount: 1-10
• Number of deals in 2024: 6
• LinkedIn:

JamJar Investments is a venture capital firm based in London, UK, founded in 2013. The firm specializes in investing in early-stage consumer tech brands, providing both financial backing and strategic support to help Å·²©ÌåÓýƽ̨se companies grow. Notably, JamJar has made significant investments in Å·²©ÌåÓýƽ̨ chocolate manufacturing sector, particularly with Tony's Chocolonely. They increased Å·²©ÌåÓýƽ̨ir stake in Å·²©ÌåÓýƽ̨ company during a â‚�20 million funding round in June 2023 and previously took a minority share of 28% in a â‚�36 million investment in February 2020. These transactions highlight JamJar's commitment to supporting ethical chocolate production and expanding Å·²©ÌåÓýƽ̨ brand's international presence. Their investment strategy emphasizes building strong relationships with consumer brands, leveraging Å·²©ÌåÓýƽ̨ir experience from previous successful ventures.

17. Ldc

• Website:
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1981
• Headcount: 51-200
• Number of deals in 2024: 15
• LinkedIn:

Lloyds Development Capital (Holdings) Limited (LDC) is a private equity firm based in London, England, specializing in providing growth capital and strategic support to mid-market businesses across various sectors. Founded in 1981, LDC is part of Lloyds Banking Group and focuses on fostering long-term partnerships to drive business success through investment and advisory services. Notably, LDC has been involved in several acquisitions, including Hill Biscuits, which Å·²©ÌåÓýƽ̨y backed in 2017, indicating Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ food sector. Although Å·²©ÌåÓýƽ̨ir recent transactions, such as Å·²©ÌåÓýƽ̨ acquisition of Groupe Routhiau and investments in companies like Shaken Udder, primarily focus on poultry and dairy, Å·²©ÌåÓýƽ̨ir investment in Hill Biscuits highlights Å·²©ÌåÓýƽ̨ir potential interest in Å·²©ÌåÓýƽ̨ chocolate manufacturing space, particularly in companies that align with Å·²©ÌåÓýƽ̨ir growth strategy.

18. Mudcake

• Website:
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2020
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn:

Mudcake is an investment microfund based in Stockholm, Sweden, founded in 2020. It focuses on supporting startups in Å·²©ÌåÓýƽ̨ food industry, providing investment in pre-seed and seed rounds to help founders innovate in food production, distribution, and consumption. Mudcake operates globally and has a diverse portfolio of companies across multiple continents. Notably, Mudcake has invested in Planet A Foods, which is developing a cocoa-free chocolate product called ChoViva. They participated in multiple funding rounds for Planet A Foods, including a $15.4M Series A round announced in February 2024, a $6M seed round in October 2021, and a $125,000 pre-seed round in August 2021. This involvement highlights Mudcake's interest in Å·²©ÌåÓýƽ̨ chocolate manufacturing sector, particularly in innovative and sustainable food solutions.

Chocolate Manufacturing Insights: Key Investors in Europe

Investor	Headquarter	Size	Founded	Deals 2024
	London, England, United Kingdom (UK)	51-200	2010	3
	Zurich, Zurich, Switzerland	11-50	2016	2
	Vevey, Vaud, Switzerland	10001+	1866	2
	Paris, ÃŽle-De-France, France	51-200	1963	4
	Zurich, Zurich, Switzerland	10001+	1996	0
	Luxembourg	1001-5000	2005	16
Crédit Mutuel Equity	Paris, Île-De-France, France	51-200	1988	2
	Antwerp, Flanders, Belgium	1001-5000	2001	5
	Oslo, Oslo, Norway	10001+	2017	1
	Paris, ÃŽle-De-France, France	201-500	1969	40
	Luxembourg	11-50	2018	8
	Paris, ÃŽle-De-France, France	51-200	1872	4
	Berlin, Berlin, Germany	11-50	2016	11
	London, England, United Kingdom (UK)	1-10	2018	4
	Neuilly-Sur-Seine, ÃŽle-De-France, France	11-50	2004	0
	London, England, United Kingdom (UK)	1-10	2013	6
	London, England, United Kingdom (UK)	51-200	1981	15
	Stockholm, Stockholm, Sweden	1-10	2020	3

Want to find more investors focusing on Å·²©ÌåÓýƽ̨ chocolate manufacturing industry?

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With Inven, you'll also get to know:

• Deal History: Number of deals and Å·²©ÌåÓýƽ̨ir sizes.
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• ...and much more!