Chocolate giant Barry Callebaut has announced the completion of its acquisition of US-based Brach's Confections Holding. The takeover gives Barry Callebaut a significant presence in the US consumer confectionery market and access to the world's largest retailers, major supermarkets and other distribution channels.
In fiscal 2002/03, Brach's and Barry Callebaut expect to generate combined pro-forma sales of approximately SF4.1 billion. Brach's generated sales of SF460 million in fiscal year 2002/03.
The results of Brach's will be consolidated as of 1 September 2003. After the closing, Brach's will now be integrated into the Barry Callebaut Group.
Terence O'Brien, CEO of Brach's, will join the senior management team of Barry Callebaut and assume the function of business unit president consumer products North America.
Zurich-based Barry Callebaut is the world's leading manufacturer of cocoa and chocolate products. Barry Callebaut operates some 30 production facilities in 16 countries and employs approximately 7,200 people. The company serves the entire food industry, from food manufacturers to professional users of chocolate such as chocolatiers, pastry chefs or bakers, to retailers.
Brach's Confections is one of America's leading manufacturers of confections. Founded in 1904 by Emil J. Brach, Brach's produces nearly 200 varieties of confections including hard candies, chocolates and fruit snacks.