Snack maker pladis completes GODIVA integration, eyes US growth in premium chocolate

09-Apr-2024 - Last updated on 09-Apr-2024 at 16:43 GMT

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Global snacking company pladis announced that it has completed the integration of premium chocolate GODIVA into its portfolio of brands, as the company aims to expand its presence in the premium chocolate space with the help of a new president.

Both subsidiaries of Yildiz Holding, pladis and GODIVA started the integration process in 2023, with plans of boosting growth in America and China. GODIVA joins other brands like chocolate-covered pretzel brand Flipz and Turtles, which attributed $125m and nearly $100m, respectively, to the company’s annual revenue.

The global premium chocolate market is estimated to be worth $6.87bn in 2024 and is expected to grow to $12.86bn by 2035, growing by an 8.7% CAGR between 2024 to 2034, driven by a demand for natural products and artisanal chocolates, according to a recent Future Market Insights (FMI) report.

Despite pladis' focus on America and China, the FMI report shows slightly slower projected growth in the premium chocolate market for those markets. The Chinese and US premium chocolate market are expected to grow by a CAGR of 4.2% and 5.5% respectively, between 2024 to 2034. This is compared to India, Japan, and Germany, which are expected to grow by a CAGR of 7%, 6.4%, and 6.3%, respectively, for the same period.

“The pladis portfolio carries a range of options to meet consumers’ snacking needs. With GODIVA joining its portfolio, pladis is now able to take its first steps beyond snacking, looking to capitalize on the global premium chocolate market," a pladis representative told FoodNavigator-USA. "In addition, pladis will benefit from the exceptional brand recognition GODIVA has worked to build since over nearly 100 years while making investments to take its legendary chocolate to new heights."

Nurtac Afridi out as CEO of Godiva, Steve Lesnard steps in as president

With the integration, many of GODVIA’s leadership team “are now in leadership positions at pladis,” but GODIVA’s CEO “Nurtac Afridi left her position last year to pursue other opportunities,” a pladis representative said. The representative did not comment on the specifics of the departure or whether the departure was influenced by the reorganization.

Effective May 1, 2024, Steve Lesnard, a former executive at Nike, The North Face and Sephora, will join pladis as the GODIVA president to accelerate GODIVA’s sales by 2026 and support growth in America and China.

“Synonymous with artisanal and beautifully curated chocolates since it was founded in Belgium almost a century ago, GODIVA is a perfect fit within pladis’ global portfolio of beloved brands. I am delighted to welcome Steve Lesnard to the team to drive growth while upholding GODIVA’s beautiful legacy,” said pladis CEO Salman Amin in a press release.