Swiss chocolate giant Barry Callebaut insisted today (13 May) its plan to sell its consumer chocolate division to Spain’s Natra remains on track.
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In March, Callebaut signalled its desire to focus on business-to-business chocolate by offloading its consumer chocolate division Stollwerck to Natra.
The two sides have yet to agree on the shape of the transaction, which could take the form of a sale or a merger. Under the initial agreement, Callebaut plans to take a minority stake in Natra.
Final details of the transaction have yet to be signed, including long-term financing, and the deal still needs approval from the boards of both companies.
However, a Callebaut spokesperson said the transaction was in line to be completed “this summer”.
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By GlobalData“It’s a rather complex transaction spanning several countries,” the spokesperson told just-food.
The addition of Stollwerck to Natra will create a company with annual sales of around EUR850m (US$1.16bn) on a pro forma basis. The combined businesses would have around 2% of the European cocoa and chocolate market and a pro forma output of 215,000 tonnes.
