Swiss chocolate maker Barry Callebaut has announced that it has closed its US$16m acquisition of US-based Brach’s Confections.
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Barry Callebaut announced at the beginning of the month that it planned to buy Brach’s Confections from KJ Jacobs for $16m in assumed debt.
The Swiss company said it would also provide Brach’s with funding to cover the remainder of its restructuring costs to a maximum of $48m over the next four to five years.
Barry Callebaut said the acquisition would give the company access to new distribution channels and the opportunity to strengthen and to extend relationships with large retailers in the US.
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