German firm Halloren has acquired a 50% stake in Belgian private label chocolate firm Bouchard to help it increase its international presence.
Klaus Lellé, CEO of Halloren said that Bouchard added the quality seal of Belgian chocolate to his company's portfolio and would help spur global growth, particularly in North America and Asia.
Bouchard: Company overview
Bouchard has an annual turnover of approximately €18m ($24m) and has around 70 employees.
The company is mainly a private label manufacturer of boxed chocolates, but also has a Bouchard house brand that sells pralines and Neapolitans (mini tablets) to companies and catering establishments.
The firm has over 100 private label customers in around 50 countries including the US and China.
Bouchard was established in 1987 and is based in Ghent. In 1994 the Belgian family-run holding company Sea-Invest acquired the firm and in 2006 Bouchard moved to a modern 10,000 m2 fully automated factory.
Halloren Q1 results
The Bouchard acquisition marks another private label venture by branded goods firm Halloren having acquired private label maker Delitzscher Schokoladenfabrik in 2008
Halloren Chocolate Factory recently reported its first quarter (Q1) results where it recorded a 25% rise consolidated sales from €18.01m ($24m) to €22.49m ($30m).
Earnings before interest and taxes (EBIT) amounted to €0.73m ($0.98m), an 8.9% increase on the same period last year.
The company expects full year sales to rise 6% to €95m ($127m).