Chocolate manufacturer Barry Callebaut has reached an agreement to acquire nut ingredient producer American Almond Products for an undisclosed sum.
The acquisition covers a number of the New York-based company’s assets, including its customer portfolio, brands, recipes and manufacturing equipment. Barry Callebaut claimed that the acquisition further demonstrated its commitment to growth in adjacent ingredients product categories. It follows the buyout of Spanish nut producer La Morella in early 2012.
American Almond Products will be integrated into the company’s Americas region from the beginning of August, after which time its gourmet and food manufacturer customers across North America will “benefit from a significantly broadened specialities products portfolio,” the Zürich-based group added.
Barry Callebaut CEO and president for the Americas 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 and specialities 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.”
American Almond Products president and CEO Vic Frumolt continued: “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.”
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