Petra Foods’ Cocoa Ingredients Division is the largest cocoa products supplier in Asia with a sales revenue of $1.3bn and 1,700 employees in fiscal year 2011.
The business has a significant global footprint across four continents with 405,000 MT of bean-grinding capacity in seven processing facilities, and four sales offices.
The transaction also includes a long-term agreement with Petra Foods’ branded consumer division to supply it with cocoa products covering 75% of its total needs. The transaction is subject to approval by Petra Foods’ shareholders as well as regulatory authorities.
Andreas Jacobs, chairman of Barry Callebaut, said: “The integration of Petra Foods’ Cocoa Ingredients Division into our Group is expected to strengthen Barry Callebaut’s earnings per share. This significant transaction will allow us to continue our expansion strategy in all regions and capture additional opportunities through outsourcing and partnership agreements as well as in Gourmet.”
The closing of the transaction is expected in summer 2013.
Source: Barry Callebaut
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