Barry Callebaut On Track to Grow in Adjacent Ingredients, Acquires American Almond
08 Jun 2015 --- The Barry Callebaut Group, the world’s leading manufacturer of high-quality chocolate and cocoa products, has signed an agreement to acquire the customer portfolio, brands, recipes, and manufacturing equipment from nut products manufacturer American Almond Products Co., Inc.
American Almond manufactures about 2,000 tonnes of nut specialties a year and generated sales revenue of approx. $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 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 August 1, 2015, both the Group’s Gourmet and Food Manufacturers’ customers in North America will benefit from a significantly broadened specialties products portfolio.
Dave Johnson, CEO and President Americas of the Barry Callebaut Group, comments: “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. 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., Inc. comments: “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.”
No further details were disclosed.
