Swiss chocolate maker Barry Callebaut has agreed to acquire assets of nut-based ingredients manufacturer American Almond Products for an undisclosed amount.
Under the agreed terms, Barry Callebaut will acquire the customer portfolio, brands, recipes, and manufacturing equipment from American Almond Products.
American Almond operates a production facility in Brooklyn, New York where it manufactures a wide range of products to serve the customers in the chocolate confectionery, pastry, bakery, ice cream and beverages markets.
It produces over 2000 tons of nut specialties a year and generated close to $15.9m in sales revenue in 2014.
Barry Callebaut CEO Dave Johnson said: "American Almond's business fits perfectly with our overall strategy to further strengthen our market position in adjacent ingredients products for both our Gourmet & Specialties and Food Manufacturers Products business.
"The acquired business will significantly broaden our product portfolio and open up attractive new growth opportunities as it complements our chocolate and cocoa product offerings."
With the addition of American Almond, Barry Callebaut will offer expanded specialty/nut-based products portfolio for both its gourmet and industrial business.
American Almond Products president and CEO Vic Frumolt said:"We are thrilled with the enormous growth opportunity for American Almond and for our customers as we become a strategic part of the Barry Callebaut Group and take full advantage of the many new product development, sales and distribution resources they have."
Nut-based products are highly complementary to chocolate and are witnessing growth in customer demand.
