Barry Callebaut to acquire American Almond Products’ assets
The Barry Callebaut Group, Zurich, has signed an agreement to acquire the customer portfolio, brands, recipes and manufacturing equipment from nut products manufacturer American Almond Products Co. Inc., Brooklyn, NY.
American Almond is known in the U.S. for its artisanal, nut-based ingredients, which are used by professional customers in the chocolate confectionery, pastry, bakery, ice cream and beverages markets. American Almond manufactures about 2,000 tonnes of nut specialties a year and generated sales revenue of approximately CHF 14.8 million ($15.9 million) in 2014.
The transaction with American Almond underlines Barry Callebaut’s strategic intention to further grow in adjacent ingredients products. In a similar step, the Barry Callebaut Group acquired Spanish company la Morella nuts in early 2012, becoming a leader in nut-based ingredients in Europe. Nut-based products are highly complementary to chocolate, with customer demand growing fast. After the integration of American Almond into Barry Callebaut's business Region Americas as of Aug. 1, both the group’s gourmet and food manufacturers customers in North America are expected to benefit from a significantly broadened specialties products portfolio.
“American Almond's business fits perfectly with our overall strategy to further strengthen our market position in adjacent ingredients products for both our Gourmet & Specialties and Food Manufacturers Products business,” says Dave Johnson, CEO and president Americas of the Barry Callebaut Group. “The acquired business will significantly broaden our product portfolio and open up attractive new growth opportunities as it complements our chocolate and cocoa product offerings.”
Vic Frumolt, president and CEO of American Almond Products Co., adds: “We are thrilled with the enormous growth opportunity for American Almond and for our customers as we become a strategic part of the Barry Callebaut Group and take full advantage of the many new product development, sales and distribution resources they have.”
The two parties have agreed not to disclose any further details on the transaction.