“This long-term global supply agreement with Kraft Foods ranks amongst the largest strategic deals our company has ever signed,” said Juergen Steinemann, chief executive officer of Barry Callebaut. “It means that we have succeeded in firmly establishing ourselves as a leading supplier for cocoa and chocolate products to the international food industry. We are excited about this partnership between two leading companies in their field, which is evidence of the ongoing outsourcing and partnership trend in the chocolate industry.”
The agreement is expected to more than double Barry Callebaut’s existing business with Kraft Foods. Barry Callebaut also will increase its production capabilities in the United States, Canada, Cote d’Ivoire, Malaysia and Europe and invest about $65 million during the next two years.