Damm and Cobega have ended the alliance they forged in 2011 to jointly rescue the Cacaolat brand, which was on the verge of disappearing from the market due to the disastrous management of its former owner, Clesa, a subsidiary of the defunct Nueva Rumasa group. The offer presented by the brewing group and the Daurella family's business holding company ---a reference shareholder of Coca-Cola Europacific Partners--- was the winner of the auction organized by the commercial court to find a partner interested in acquiring the brand's assets and ensuring its continuity. The proposal prevailed over the offers made by Vichy Catalán and Central Lechera Asturiana.
The key to the success of their offer was the commitment to launch a new factory for Cacaolat in Damm's old plant in Santa Coloma de Gramenet, which allowed production to cease in Pujades street in Barcelona, where the facilities had become obsolete. The new production center came into service in 2013, after an investment of 45 million euros.
The bankruptcy judge also valued Damm and Cobega's strong capacity to boost and give new life to the historic brand thanks to their powerful commercial and distribution network, as the same delivery trucks that carry beers and soft drinks to bars could also serve the popular chocolate milkshakes.
To acquire the assets and rescue the brand from bankruptcy proceedings, Damm and Cobega formed a new company, Grupo Cacaolat, which they have controlled 50% until now and which was co-chaired by Sol Daurella, president of Cobega, and Demetrio Carceller, president of Damm. The brewing group, however, has now bought the 50% stake held by Cobega and now controls 100% of Cacaolat's shares, as announced by the company.
Once the brand's presence in the market has been consolidated and that period of crisis left behind, Cacaolat has an ambitious strategic growth plan underway, led by a new CEO, Josep Barbena, former executive of GBfoods (Gallina Blanca). In the year prior to the pandemic, Cacaolat invoiced around 60 million euros. In addition to producing the popular milkshake brand, Cacaolat operates in the milk market through Letona, which has also activated a growth plan.