Barry Callebaut to acquire Spanish chocolate maker
November 04, 2009
by Eric Schroeder
ZURICH, SWITZERLAND — Barry Callebaut reached an agreement with the Nederland Group to acquire Chocovic, S.A., a Spanish chocolate maker specializing in products for industrial and artisanal customers primarily under the Chocovic and Novacrem brands. Financial details of the transaction were not disclosed.
Chocovic makes about 30,000 tonnes of chocolate and specialty products per year at its factory in Gurb, Spain, and has annual sales of approximately €60 million ($88.7 million). In addition, the company owns "Aula Chocovic," a chocolate academy founded in 1995 that offers training for professionals and provides technical support to Chocovic’s commercial team.
"With our reconfirmed focus on our core activities with industrial and artisanal customers we now fully concentrate on expanding our existing business," said Juergen B. Steinemann, chief executive officer of Barry Callebaut. "The acquisition of Chocovic is an excellent, future-oriented opportunity for us. Chocovic will strengthen our position in Spain, it is a perfect complement to our existing offering, and we will use it especially as a platform to further build our gourmet business."
Barry Callebaut said Nederland’s other two cocoa businesses — Moner Cocoa S.A. and Nederland S.A. (cocoa processing) — are not part of the acquisition.