SWITZERLAND: Barry Callebaut sees sweet promise in Stollwerck takeover
Swiss chocolate giant Barry Callebaut revealed earlier today [Friday] that is has agreed to buy out German competitor Stollwerck for a cash-and-stock deal worth €175m (US$157m), including debt. Callebaut said the two companies' activities are complementary, and that after a one-time charge of CHF80m (US$49m), Stollwerck's integration into Callebaut will create annual synergies of around CHF32m.
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