Barry Callebaut has announced the sale of its European consumer business Stollwerck to the Belgian Baronie Group. The share deal comprises the entire Stollwerck Group including five factories in Germany, Belgium and Switzerland. The transaction also includes a long term supply agreement between Baronie Group and Barry Callebaut for the supply of approximately 25,000 tonnes of liquid chocolate annually as well as the additional supply of cocoa beans and semi finished products.
The two contracting parties agreed not to disclose any financial details of the transaction, which is subject to antitrust assessment. Closing is expected for fall 2011.
Stollwerck, bought by Barry Callebaut in 2002, is a producer of chocolate confectionery products offering an extensive portfolio to most of the important retailers in Europe. Sales revenue of Stollwerck is approximately EUR 500 million and volumes sold are more than 100,000 tonnes. Stollwerck’s volumes consist of private label business, branded chocolate products and co manufacturing for third parties.
Source: Confectionery Production