Jacobs Holding AG, majority stakeholder of Barry Callebaut AG, has sold 10.02 percent of its shares in the Swiss company with the goal of diversifying its investment portfolio and further supporting the Jacobs Foundation.

Barry Callebaut announced Tuesday that Jacobs Holding had successfully sold 156,658 shares (2.85 percent) in a private placement to Ontario Teachers’ Pension Plan and another 393,342 shares (7.17 percent) by way of an accelerated bookbuilding process at a price of CHF 1,915 ($1,928) per share.

After the completion of these transactions, Jacobs Holding still retains nearly 2.2 million shares, representing 40.08 percent in Barry Callebaut’s share capital. As a result, Barry Callebaut’s free float at SIX Swiss Exchange will increase from 42.5 percent to 54.9 percent.

Jacobs Holding, which has held a stake of 50.1 percent since 1998, says it will remain committed to Barry Callebaut as reference shareholder, with no intention of a further sell-down.

“Barry Callebaut is and will remain in every respect the most important investment for us, and this transaction does not change our relationship to the company our father founded,” said Philippe Jacobs, co-chairman of Jacobs Holding AG. “We are deeply convinced of its continued growth prospects and support the management team in the implementation of its strategy. We will remain involved and fully committed to Barry Callebaut as reference shareholder in the long run.”

Jacobs Holding AG has agreed to a two-year lock-up. Ontario Teachers’ Pension Plan has agreed to a one-year lock-up.