Belgian company to buy Barry Callebaut’s European consumer business

Barry Callebaut has signed an agreement to sell its European consumer business Stollwerck to Belgian Baronie Group. The share deal comprises of the entire Stollwerck Group including fi ve factories in Germany, Belgium and Switzerland. The transaction also includes a long-term supply agreement between Baronie Group and Barry Callebaut for the supply of approximately 25,000 tons of liquid chocolate annually, as well as the additional provision of cocoa beans and semi-fi nished products.

Both parties have agreed not to disclose any financial details of the transaction, which is subject to an anti-trust assessment. Closing is expected for fall 2011. Rabobank International acted as the financial advisor for this transaction.

Stollwerck, founded in 1839 and bought by Barry Callebaut in 2002, produces chocolate confectionery products to major retailers in Europe. The sales revenue of Stollwerck is approximately €500 million and volumes sold are more than 100,000 tons. Stollwerck's volumes consist of private label business, branded chocolate products such as Sarotti, Alprose, Alpia and Jacques, and comanufacturing for third parties. The company currently employs about 1,700 people.