Barry Callebaut, the Swiss business-to-business chocolate maker, has today (1 May) closed its acquisition of a 60% stake in KLK Cocoa in Malaysia from Kuala Lumpur Kepong Berhad.
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After receiving the necessary approval from the Ministry of International Trade & Industry of Malaysia, KLK Cocoa will now change its name to Barry Callebaut Malaysia.
The acquisition of a stake in KLK Cocoa gives Barry Callebaut a strong basis to “further expand its footprint in Asia-Pacific, a region offering significant growth potential.”
The management team of KLK Cocoa will transfer to Barry Callebaut Malaysia.
In March, CEO Patrick De Maeseneire said Barry Callebaut needed to boost its presence in a region where the demand for chocolate is expected to grow rapidly.
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By GlobalData“The chocolate market in Asia-Pacific is expected to grow by more than 30% in volume over the next four years,” De Maeseneire said.
“With our rapidly growing chocolate business in Asia, we have an equally growing need for cocoa products. In that regard Asia has been a blank spot on the map for us that we wanted to fill.”
