Barry Callebaut Acquires ASM Foods to Strengthen Presence in Scandinavia

18 Jan 2013 --- In addition, Barry Callebaut will take over the industrial chocolate and compound production of Carletti A/S in Denmark including sales to third parties, and at the same time sign a long-term outsourcing agreement to supply Carletti A/S with their requirements for liquid chocolate and compound products.

 

The total additional volume for Barry Callebaut consisting of the ASM Foods business and the outsourcing agreement with Carletti will be approximately 25,000 tonnes of chocolate, compound and fillings.

 

As part of the agreement, Barry Callebaut will sell its non-core business of frozen pastry products in Alicante, Spain, to Givesco A/S, the holding company of Carletti A/S and ASM Foods AB.

 

Juergen Steinemann, CEO of Barry Callebaut, said: "With the acquisition of ASM Foods AB we strengthen our portfolio of higher-margin products such as specialty compound chocolate, fillings and inclusions. This transaction will put us in a leadership position in Scandinavia. I am also proud to welcome Carletti A/S as our first outsourcing partner in Scandinavia."

 

The total cash-out as a result of the three transactions will amount to CHF 33 million (EUR 27 million / USD 36 million). The closing of all transactions is expected for the summer 2013.

 

Owned by Givesco A/S, the Carletti Group develops and produces a wide variety of chocolate and confectionery products, primarily in Denmark and Northern Europe. The Carletti Group consists of the parent company Carletti A/S, based in Aarhus, Denmark, and the two subsidiaries ASM Foods AB in Mjölby, Sweden and Carletti Polska Sp. zo.o. in Pruszkow, Poland. ASM Foods AB is the market leader supplying ingredients to the Scandinavian bakery, ice cream and dairy sector.