Blog: Barry Callebaut broadens reach with nut M&A
Katy Askew | 9 June 2015
B2B confectionery supplier Barry Callebaut has entered into an agreement to acquire US nut producer American Almond Products Co. for an undisclosed sum.
The deal is small in terms of Barry Callebaut's overall scale. Financial terms were not disclosed but analysts at Kepler Cheuvreux estimate that, with sales of CHF15m (US$16.2m), Barry Callebaut is likely to have paid in the region of CHF30m for American Almond.
The bolt-on acquisition broadens the group's reach into adjacent ingredients categories and expands Barry Callebaut's ability to serve its confectioner customers with an on-trend range of artisanal nut products. In a similar step, the Barry Callebaut acquired Spanish nut company La Morella in early 2012, becoming a leader in nut-based ingredients in Europe.
Dave Johnson, CEO and president of Barry Callebaut's Americas arm, 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 and 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."
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