Duc d’O CEO Eddy Walraevens has left the company and Baronie’s management team will assume responsibility for the Duc d’O business.
Baronie, which operates nine factories across Europe, adds Duc d’O’s single factory near Antwerp. Duc d’O had an annual turnover of around €25m ($32m) in 2013.
Tapping US and emerging markets
In June, Duc d’O signed a deal with International Foods Associates (IFA) to sell and market Duc d’O flaked truffles in the US.
The expansion followed entry in April this year into India and expanded distribution in China, Eastern Europe and Russia over the past few years.
Chocolatier Duc d’O was established in 1983 and was acquired by fellow Belgian firm Gudrun in June 2011. Around 40% of volumes in Duc d’O’s branded division are sold in Europe, 30% in Asia and 20% in the rest of the world. The company also produces products for private label customers.
Baronie's latest acquisition builds on its 2011 deal for Barry Callebaut’s European consumer division Stollwerck, which had annual sales of €500m ($646m) at the time. That deal included five factories in Germany, Belgium and Switzerland.