Green aims for buyout from Kraft, says report

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 a report.

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 20m.

Green & Black's was founded as an ethical fairtrade and organic chocolate firm in 1991 by Whole Earth Foods entrepreneur Craig Sams and wife Josephine Fairley.

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.

Kraft said it had no current plans to sell Green & Black's, adding the brand was "in good hands".

Michael Clarke, president of Kraft Foods Europe, said: "We understand the importance of sustainability to our consumers. Here in Europe, we will continue to invest behind growing and optimising the entire chocolate portfolio."