Barry Callebaut is strengthening its presence in Scandinavia by acquiring ASM Foods in Sweden from Carletti of Denmark. The transaction includes a specialty factory in Mjölby, focused on the production of specialty compound chocolate, fillings and inclusions. The 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 in Denmark including sales to third parties, and at the same time sign a long-term outsourcing agreement to supply Carletti with its 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, the holding company of Carletti and ASM Foods.
“With the acquisition of ASM Foods we strengthen our portfolio of higher-margin products such as specialty compound chocolate, fillings and inclusions,” said Juergen Steinemann, CEO of Barry Callebaut. “This transaction will put us in a leadership position in Scandinavia. I am also proud to welcome Carletti as our first outsourcing partner in Scandinavia.”
The total cash-out as a result of the three transactions will amount to CHF 33 million (€27 million/US$ 36 million). The closing of all transactions is expected in summer 2013.
