Swiss chocolate maker Barry Callebaut has agreed to acquire industrial chocolate manufacturing assets from US-based World's Finest Chocolate.
Both the companies have signed a new long-term outsourcing agreement to this effect.
As per the agreed terms, the company will also lease space at World's Finest Chocolate's existing production site in Chicago which will be its new manufacturing base in the Midwestern US.
Additionally, the company will supply all of World's Finest Chocolate's chocolate demand from World's Finest's existing Chicago facility.
World's Finest Chocolate CEO Edmond Opler said: "Our long-term agreement with the Barry Callebaut Group guarantees the supply of our 75-year-old family recipe continuing to be made in our facility from 'bean-to-bar'.
"This partnership allows us to focus our energies on continued growth, manufacturing our finished goods and servicing our many customers."
The new Chicago site will also allow the company to bolster its manufacturing operations in North America, where its currently has 11 plants.
Barry Callebaut also plans to invest around $5.7m in fiscal year 2014/15.
Image: Barry Callebaut manufactures chocolate and cocoa products. Photo: courtesy of Barry Callebaut AG.
