Cargill to Acquire German Chocolate Business
January 12, 2011
Cargill is expanding its cocoa and chocolate business in Europe.
The company has acquired Schwartauer Werke GmbH & Co. KG Kakao Verarbeitung Berlin (KVB), a Germany-based integrated chocolate company, according to a release from Cargill.
Jos de Loor, head of Cargill’s cocoa and chocolate business, says the acquisition is a step in his company’s growth strategy in Europe.
“The acquisition will strengthen Cargill’s position in Germany, the largest chocolate market in Europe, and create opportunities to expand our chocolate business into new markets,” De Loor adds.
KVB has two production plants, both in Berlin, Germany. The two plants employ about 180 people. After the deal is completed the employees will become part of Cargill’s global network of cocoa and chocolate businesses. KVB’s two Berlin plants will complement Cargill’s existing German cocoa and chocolate facilities in Klein Schierstedt and Hamburg.
“We plan to invest significantly in KVB’s facilities to create a superior chocolate house that will enable us to offer customers greater choice, higher quality and extended market reach,” De Loor says.
The acquisition deal is expected to be completed in the first part of this year.
Cargill has been in Germany since 1955, and has about 1,600 employees in 12 locations in the country.
KVB is one of the leading German business-to-business cocoa and chocolate manufacturers, and the company serves a range of European confectionery producers in the chocolate, baking and ice cream industry.