Barry Callebaut will acquire ASM Food AB from Carletti A/S of Denmark, thus boosting its presence in Scandinavia.
In addition to the brand name, Barry Callebaut will receive a specialty factory in Mjölby, Sweden that focuses on the production of specialty compound chocolates, fillings and inclusions.
The company will also take over the industrial chocolate and compound production of Carletti, signing a long-term outsourcing agreement to supply Carletti with their required liquid chocolate and compound products.
The acquisition is expected to raise the brand’s total production capacity to 35,000 metric tons (38,581 U.S. short tons).
As part of the agreement, Barry Callebaut will sell its non-core business of frozen pastry products in Alicante, Spain, to Givesco A/S, the holding company of Carletti and ASM Foods.
“With the acquisition of ASM Foods AB, we strengthen our portfolio of higher-margin products such as specialty compound chocolate, fillings and inclusions,” says Juergen Steinemann, ceo of Barry Callebaut. “I am also proud to welcome Carletti A/S as our first outsourcing partner in Scandinavia."
The total cash-out as a result of the three transactions will amount to $36 million. The transaction is expected to close this summer.