Swiss chocolate giant Barry Callebaut revealed earlier today [Friday] that is has agreed to buy out German competitor Stollwerck for a cash-and-stock deal worth €175m (US$157m), including debt.

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Callebaut said the two companies’ activities are complementary, and that after a one-time charge of CHF80m (US$49m), Stollwerck’s integration into Callebaut will create annual synergies of around CHF32m.


Subject to regulatory approval, the deal will see Callebaut first buy out a 96% stake of Stollwerck currently held by Imhoff Industrie Holding and the Imhoff foundation. The price of the offer to the remaining minority shareholders has yet to be announced.


The German chocolate manufacturer generates around 60% of its sales in Germany, and Callebaut is welcoming the chance to increase its position in both the German and European consumer markets.

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