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Baronie to buy Barry Callebaut's European consumer arm.

(SeeNews) - Jul 11, 2011 - Belgian chocolate manufacturer Baronie Groep has agreed to buy the European consumer activities of Swiss sector player Barry Callebaut (SWF:BARN), the companies said in a joint statement on Monday.

The proposed deal, whose financial terms remained undisclosed, will create a chocolate manufacturer with estimated annual sales of more than EUR 600 million (USD 851m).

Under the terms of the agreement, Baronie will buy the Stollwerck business, along with five factories in Germany, Belgium and Switzerland.

The deal involves also a long-term supply agreement for nearly 25,000 tonnes of chocolate per year.

The transaction is expected to be completed this autumn after approval by regulators.

Baronie is part of family-owned Sweet Products.

Stollwerck has about 1,700 employees.

(EUR 1.0 = USD 1.418)
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Publication:ADP News Belgium
Date:Jul 11, 2011
Words:129
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