green LA girl

Nestle gets outta fair trade chocolate

Posted by Siel in caffeine, fairtrade (Thursday July 13, 2006 at 3:54 pm)

For Nestle-hating fair trade advocates everywhere, I’ve got some good news.

Remember when Nestle got a piece of the fair trade Day Chocolate Company (better known as the maker of Divine Chocolates)? If you have no idea what I’m talkin’ ’bout, here’s the quick skinny: Back in May, The Body Shop, which owned a piece of Day Chocolate Company, got bought by L’Oreal, which is partially owned by Nestle.

Now, The Body Shop’s handed back its 14% stake in Day Chocolate back to Kuapa Kokoo, the cocoa co-op that helped found the brand.

Sez the Times UK: “Analysts suggested yesterday that the step may be a tidying-up exercise by L’Oréal, as Body Shop’s new owner. Body Shop wrote off the value of its stake in Day Chocolate some time ago.”

Day Chocolate’s now owned by Kuapa Kokoo (49%) and Twin Trading (51%), the London-based alternative trading company.

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