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Swiss-based chocolate maker Barry Callebaut AG is looking for more acquisitions as it waits for approval of a $950-million deal to buy a cocoa-ingredients business. Chief executive Juergen Steinemann reports the company is pondering the purchase of gourmet chocolate makers, with some located in emerging markets.
Barry Callebaut has its own gourmet brands, but says it wants to expand its reach. "We want to add...content or regions to these brands," says Steinemann. He didn’t specify which companies Barry Callebaut is considering.
The company is wrapping up the acquisition of the cocoa-ingredients division of Singapore-listed Petra Foods Ltd. The deal, which Steinemann said would be completed by the summer, pending European regulatory approval and other steps, would make Barry Callebaut the world's largest cocoa processor.
Steinemann says the Petra acquisition should jump-start the emerging-markets segment of the business to 33%. The company's goal is to have half of its business based in emerging markets, he adds.