Swiss chocolate maker Barry Callebaut has acquired ASM Foods in Sweden from Danish confectioner Carletti.
The deal includes transfer of a speciality plant that produces compound chocolate products. Barry Callebaut will also take over industrial chocolate and compound production of Carletti in Denmark and has entered into a long-term outsourcing agreement to supply the group.
The total additional volume for Barry Callebaut consisting of the ASM Foods business and the outsourcing agreement with Carletti will be around 25,000 tonnes of chocolate, compound and fillings.
"With the acquisition of ASM Foods we strengthen our portfolio of higher-margin products such as speciality compound chocolate, fillings and inclusions. This transaction will put us in a leadership position in Scandinavia. I am also proud to welcome Carletti A/S as our first outsourcing partner in Scandinavia," Juergen Steinemann, CEO of Barry Callebaut, said.
Barry Callebaut strengthens its presence in Scandinavia
Acquisition of ASM Foods AB in Sweden
Becoming the leader in Scandinavia through the acquisition of ASM Foods in Sweden from Carletti A/S of Denmark, including a specialty plant to produce compound chocolate and fillings Taking over industrial chocolate and compound production of Carletti A/S, Denmark and signing of a long-term outsourcing agreement Overall additional volume of about 25,000 tonnes of chocolate, compound and fillings Zurich/Switzerland, January 18, 2013 - Barry Callebaut, the world's leading manufacturer of high-quality cocoa and chocolate products, is strengthening its presence in Scandinavia by acquiring ASM Foods AB in Sweden from Carletti A/S of Denmark. The transaction includes a specialty factory in Mjölby, focused on the production of specialty compound chocolate, fillings and inclusions. This acquisition will add a total production capacity of 35,000 tonnes.
In addition, Barry Callebaut will take over the industrial chocolate and compound production of Carletti A/S in Denmark including sales to third parties, and at the same time sign a long-term outsourcing agreement to supply Carletti A/S with their requirements for liquid chocolate and compound products.
The total additional volume for Barry Callebaut consisting of the ASM Foods business and the outsourcing agreement with Carletti will be approximately 25,000 tonnes of chocolate, compound and fillings.
As part of the agreement, Barry Callebaut will sell its non-core business of frozen pastry products in Alicante, Spain, to Givesco A/S, the holding company of Carletti A/S and ASM Foods AB.
Juergen Steinemann, CEO of Barry Callebaut, said: "With the acquisition of ASM Foods AB we strengthen our portfolio of higher-margin products such as speciality compound chocolate, fillings and inclusions. This transaction will put us in a leadership position in Scandinavia. I am also proud to welcome Carletti A/S as our first outsourcing partner in Scandinavia."
The total cash-out as a result of the three transactions will amount to CHF 33 million (EUR 27 million / USD 36 million). The closing of all transactions is expected for the summer 2013.
