Chocolate manufacturer Barry Callebaut is to acquire the assets of nut products company American Almond Products.
The deal is part of the chocolate company’s strategy to grow its presence in the complementary ingredients sector. It made a similar acquisition of Spanish company la Morella nuts in 2012.
Barry Callebaut, which also sponsors British Baker’s National Cupcake Week, has signed an agreement to acquire the customer portfolio, brands, recipes, and manufacturing equipment from nut products manufacturer American Almond Products Co.
American Almond manufactures about 2,000 tonnes of nut specialties a year and generated sales revenue of approximately EUR 14.2 million in 2014.
The two parties have agreed not to disclose any further details on the transaction.
Dave Johnson, chief executive and president Americas of the Barry Callebaut Group, said: “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 chief executive of American Almond, added: “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.”