Callebaut signs strategic deal with Kraft
Barry Callebaut, the world’s largest chocolate maker, has become the main supplier for Kraft Foods, the world’s second-largest food company.
The agreement is expected to more than double the Zurich-based group’s existing business with Kraft. No further terms of the agreement were disclosed.
In a statement on Thursday, Barry Callebaut said it would increase its production capacities primarily in the United States, Canada, Ivory Coast, Malaysia as well as in Europe and invest approximately $65 million (SFr65.9 million) over the next two years.
The additional volumes will be built up gradually over a period of three years, starting immediately.
“This long-term global supply agreement with Kraft Foods ranks amongst the largest strategic deals our company has ever signed,” said Jürgen Steinemann, CEO of Barry Callebaut.
“It means we have succeeded in firmly establishing ourselves as a leading supplier for cocoa and chocolate products to the international food industry.”
With annual sales of SFr4.9 billion ($$4.83 billion) for 2009, Barry Callebaut is the world’s leading manufacturer of high-quality cocoa and chocolate – from the cocoa bean to the finished product on the store shelf.
The company is present in 26 countries, operates more than 40 production facilities and employs about 7,500 people. It also supplies cocoa and chocolate products for companies such as Nestlé and Cadbury.
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