Organic chocolate maker Green & Black’s is looking to buy itself out of US food giant Kraft following the Cadbury takeover last year, it has been reported.
Bosses at Green & 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, according to the Financial Times.
Kraft acquired Green & Black’s as part of its controversial acquisition of Cadbury in early 2010.
It is thought that Green & 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 & Black’s six years ago for an estimated £20 million, having already taken a small stake in the group in 2002.
Green & 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.
It is thought that Green & Black’s was also unhappy as part of Cadbury, despite being treated as an independent business.
Speculation over a management buyout first emerged last summer when former Cadbury chief strategy officer mark Reckitt quit Kraft to work in the US while also acting as a consultant to Green & Black’s for one day a week.
Green & Black’s and Kraft were not immediately available for comment.