Swiss chocolate maker Barry Callebaut has announced the closing of its acquisition of Scandinavia-based AM Foods.
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AM Foods produces and sells chocolate and cappuccino vending mix products primarily to the food service sector in Europe.
Barry Callebaut said the acquisition underscores its strategic intention to grow its Gourmet & Specialties business unit’s share of total sales.
“The acquisition of AM Foods allows Barry Callebaut to achieve two goals: First, to have its own high-quality production facility and, second, to strengthen its position in Europe, a region where out-of-home consumption is rapidly growing and which is still under-equipped with vending machines in comparison to North America or Japan,” the company said.
AM Foods will now be integrated into the Gourmet & Specialties business unit of Barry Callebaut. AM Foods will change its name to Barry Callebaut (Sweden).
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By GlobalData
