The EU's executive Commission found that the market would still face sufficient competition after the two firms merged.
"In the markets for the production and sale of semi-finished cocoa products, the parties' activities focus on different regions, since Petra Foods is mainly active in Asia," the Commission said in a statement.
The Swiss-based firm is the world's biggest maker of finished chocolate products for clients such as Nestle and Hershey, and buys roughly 650,000 tonnes of cocoa annually around the globe.
The $950 million acquisition of Petra Food's cocoa business should raise that number to roughly 1 million tonnes, and give Barry Callebaut access to high-growth emerging markets.
