Lacasa acquires 22.3% stake in KKO International, launches Côte d’Ivoire chocolate joint venture
Lacasa acquires 22.3% of KKO International and forms a Côte d’Ivoire joint venture to localise chocolate production and strengthen integration across the cocoa value chain.
CAMEROON – Lacasa has acquired a 22.3% stake in KKO International as part of a strategic move to expand its presence in the West African cocoa sector.
The transaction, which involves a capital increase valued at approximately €4.7 million (US$5.52M), includes a cash contribution of €2.2 million (US$2.59M), with the remaining balance settled through the offsetting of existing receivables.
The investment is expected to reshape the governance structure of KKO International, with its board set to be reconstituted to include a majority of representatives from the Spanish firm.
As part of the agreement, the two companies will also establish a joint venture to manufacture finished chocolate products in Côte d’Ivoire. The initiative will involve Shokko, a subsidiary of KKO International, and aims to localise chocolate production rather than exporting raw or semi-processed cocoa materials.
Lacasa CEO Fernando Lacasa Echeverria said the acquisition aligns with the company’s long-term strategic direction. “In line with the long-term strategic direction of our family business,” he stated.
Echeverria added that the existing relationship between the two companies provided a solid foundation for the investment.
“We know KKO International well through established operational relationships and have been able to appreciate the quality of its teams as well as its position at the heart of the cocoa sector. We are convinced of the value creation potential of this partnership and intend to play an active and constructive role in the group’s governance, respecting its identity and ambitions,” he said.
KKO International president Jacques-Antoine de Geffrier described the deal as a transformative step for the company. “This is a major step in the transformation of the KKO International group, which is getting both a solid industrial partner, strengthened financial resources and an increased capacity to deploy its long-term strategy,” he said.
The capital injection comes as KKO International continues to scale its operations. The company reported first-half revenues of €9.5 million (US$11.17M) in October, more than doubling its previous annual performance.
However, rising cocoa bean prices, along with increased logistics and energy costs, weighed on profitability, with operating profit declining to €1.2 million from €1.7 million in the prior-year period.
The partnership is expected to strengthen integration across the cocoa value chain, linking upstream farming activities with downstream processing and finished product manufacturing within Côte d’Ivoire.
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