In its first quarter of fiscal year 2012/13 (ended November 30, 2012), chocolate manufacturer Barry Callebaut claims that it significantly outpaced the global chocolate market with an overall sales volume growth of 8.3%, with all regions contributing.
According to Nielsen, the global chocolate market grew by 1.1% during the period.
The Food Manufacturers Products business’ sales volume rose strongly by 10.0%, while the Gourmet & Specialties Products business recorded double-digit increases in all regions except Western Europe, where the company said that the market environment remained challenging against the background of economic uncertainties, especially in Southern Europe.
“I am pleased we were able to achieve a strong volume growth in the first three months of our fiscal year, driven by substantial growth in emerging markets, but also supported by a solid development in North America and Western Europe,” said Juergen Steinemann, CEO of Barry Callebaut. “With this and despite the current adverse economic environment in some countries, once again we significantly outperformed the market. The planned acquisition of Petra Foods’ Cocoa Ingredients Division will further support our chocolate growth and strengthen our presence in the fast growing emerging markets. This is an important step in achieving our growth plans.”
“We will continue to implement the various communicated projects supporting our top and bottom-line growth. I am confident we will reach our mid-term financial targets.”
In December, Barry Callebaut announced the largest acquisition in its history – that of the Cocoa Ingredients Division from Petra Foods. With this, Barry Callebaut believes it will boost its presence in fast growing emerging markets to almost one-third of the Group’s sales volume. This will enable the company, it said, to capitalise on the attractive growth rates in these markets for cocoa powder-based applications in beverages, compound chocolates, fillings, bakery products and ice cream.
In addition, this will strengthen Barry Callebaut’s current and future outsourcing and strategic partnership agreements as there is a trend towards combined deals (cocoa and chocolate products). It will also add Asia as a strong sourcing base besides West Africa. The closing of the transaction is expected in summer 2013.
