ZURICH, SWITZERLAND--(Marketwire - Jan 18, 2013) - Barry Callebaut /Barry Callebaut strengthens its presence in Scandinavia. Processed and transmitted by Thomson Reuters ONE.The issuer is solely responsible for the content of this announcement.
Acquisition of ASM Foods AB in Sweden
* Becoming the leader in Scandinavia through the acquisition of ASM Foodsin Sweden from Carletti A/S of Denmark, including a specialty plant toproduce compound chocolate and fillings
* Taking over industrial chocolate and compound production of CarlettiA/S, Denmark and signing of a long-term outsourcing agreement
* Overall additional volume of about 25,000 tonnes of chocolate, compoundand fillings
Barry Callebaut, the world's leadingmanufacturer of high-quality cocoa and chocolate products, is strengtheningitspresence in Scandinavia by acquiring ASM Foods AB in Sweden from CarlettiA/S ofDenmark. The transaction includes a specialty factory in Mjölby,focused on theproduction of specialty compound chocolate, fillings and inclusions. Thisacquisition will add a total production capacity of 35,000 tonnes.
In addition, Barry Callebaut will take over the industrial chocolate andcompound production of Carletti A/S in Denmark including sales to thirdparties,and at the same time sign a long-term outsourcing agreement to supplyCarlettiA/S with their requirements for liquid chocolate and compound products.
The total additional volume for Barry Callebaut consisting of the ASM Foodsbusiness and the outsourcing agreement with Carletti will be approximately25,000 tonnes of chocolate, compound and fillings.
As part of the agreement, Barry Callebaut will sell its non-core businessoffrozen pastry products in Alicante, Spain, to Givesco A/S, the holdingcompanyof Carletti A/S and ASM Foods AB.
Juergen Steinemann, CEO of Barry Callebaut, said: "With the acquisition ofASMFoods AB we strengthen our portfolio of higher-margin products such asspecialtycompound chocolate, fillings and inclusions. This transaction will put usin aleadership position in Scandinavia. I am also proud to welcome Carletti A/Sasour first outsourcing partner in Scandinavia."
The total cash-out as a result of the three transactions will amount to CHF33million (EUR 27 million / USD 36 million). The closing of all transactionsisexpected for the summer 2013.
Carletti Group (www.carletti.com):Owned by Givesco A/S, the Carletti Group develops and produces a widevariety ofchocolate and confectionery products, primarily in Denmark and NorthernEurope.The Carletti Group consists of the parent company Carletti A/S, based inAarhus, Denmark, and the two subsidiaries ASM Foods AB in Mjölby, Sweden andCarletti Polska Sp. zo.o. in Pruszkow, Poland. ASM Foods AB is the market leader supplying ingredients to the Scandinavian bakery, ice cream and dairysector.
Barry Callebaut (www.barry-callebaut.com):
With annual sales of about CHF 4.8 billion (EUR 4.0 billion / USD 5.2billion)for fiscal year 2011/12, Zurich-based Barry Callebaut is the world'sleadingmanufacturer of high-quality cocoa and chocolate - from the cocoa bean tothefinest chocolate product. Barry Callebaut is present in 30 countries,operatesaround 45 production facilities and employs a diverse and dedicatedworkforce ofabout 6,000 people. Barry Callebaut serves the entire food industryfocusing onindustrial food manufacturers, artisans and professional users of chocolate(such as chocolatiers, pastry chefs or bakers), the latter with its twoglobalbrands Callebaut® and Cacao Barry®.
Barry Callebaut is the global leader incocoa and chocolate innovations and provides a comprehensive range ofservicesin the fields of product development, processing, training and marketing.Costleadership is another important reason why global as well as local foodmanufacturers work together with Barry Callebaut. Through its broad rangeofsustainability initiatives and research activities, the company works withfarmers, farmer organizations and other partners to help ensure futuresuppliesof cocoa and improve farmer livelihoods.
The complete news release can be downloaded from the following link:
Press Release (PDF):http://hugin.info/100441/R/1671233/543228.pdf
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Source: Barry Callebaut via Thomson Reuters ONE
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