Under the $36m (€27m) deal, Callebaut takes control of the industrial chocolate and compound production of Carletti in Demark and also adds Carletti’s ASM Foods business based in Sweden.
Givesco-owned Carletti produces branded confectionery products for the Danish market, while ASM is among the leading ingredients suppliers to the bakery, ice cream and dairy sectors in Scandinavia.
Leadership in Scandinavia
Callebaut CEO Juergen Steinemann said: “With the acquisition of ASM Foods AB we strengthen our portfolio of higher-margin products such as specialty compound chocolate, fillings and inclusions. This transaction will put us in a leadership position in Scandinavia.”
Barry Callebaut has added ASM Foods' factory in Mjölby, Sweden, under transaction, which produces specialty compound chocolate, fillings and inclusions, upping its capacity by 35,000 metric tons.
The deal includes a long-term outsourcing agreement for Callebaut to supply industrial and compound chocolate to Carletti - although it is still free to supply third parties.
Carletti’s Danish operation gives Callebaut an additional 25,000 metric ton capacity of chocolate, compound and fillings.
The Swiss-based chocolate firm has also offloaded its “non-core” frozen pastry products business in Spain to Givesco, the holding company of Carletti and ASM Foods.
The transaction is expected to close by summer 2013.