Barry Callebaut to acquire Petra Foods’ cocoa ingredients division
Barry Callebaut, a leading manufacturer of high-quality cocoa and chocolate products based in Zurich, has reached an agreement with Petra Foods Ltd., Singapore, to acquire Petra Foods Ltd.’s cocoa ingredients division. The division is, according to Barry Callebaut, the largest cocoa products supplier in Asia, with a global sales volume of 265,000 metric tons and 47,000 metric tons of co-manufacturing volumes for large accounts, sales revenue of $1.3 billion (1.1 billion Swiss francs) and 1,700 employees in fiscal year 2011. The business also has a significant global footprint across four continents, with 405,000 metric tons of bean-grinding capacity in seven processing facilities and four sales offices.
The integration of Petra Foods’ cocoa ingredients division will make Barry Callebaut the largest global cocoa processor. The transaction also includes a long-term agreement with Petra Foods’ branded consumer division to supply it with cocoa products covering 75% of its total needs.