Chocolate giant Barry Callebaut has signed an agreement with MISP Holding to acquire 100% of the shares of its subsidiary Eurogran.

The acquisition is a signal of Barry Callebaut's plans to strengthen its position in the European chocolate vending mix business.

Danish company Eurogran, which has annual sales of around DKK208m (US$39.6m), is an instant powder manufacturer of ingredients for the vending industry in Europe.

The company produces a range of instant products including hot chocolate, coffee and granulated milk under its own brand Le Royal. It also makes private-label products for the same categories.
 
Barry Callebaut's vending and beverages division is part of its gourmet and specialities business unit. Headquartered in Sweden, the company operates a production facility in Kågeröd, Sweden.

It is the intention that Eurogran with be integrated into Barry Callebaut Sweden.
 
The two parties have not disclosed any financial details of the transaction.