Barry Callebaut acquires American Almond amid record-high commodity prices
The Swiss-based supplier said the buy underlined its strategy to grow in other ingredients categories adjacent to chocolate. The company already owns Spanish firm la Morella nuts, acquired in 2012
The acquisition comes as almond price reached record highs in May due to water shortages in California and tight supplies, according to commodity analysts Mintec.
American Almond recorded 2014 revenues of CHF 14.8m ($15.9m) and produced 2,000 metric tons of nut specialties from its facility in Brooklyn, New York.
Complementing chocolate offerings
Barry Callebaut said American Almond was the leading U.S. artisanal nut-based ingredients supplier and provided products for chocolate confectioners, bakery manufacturers, and ice-cream and beverage makers.
Dave Johnson, CEO and President Americas of the Barry Callebaut Group, comments: “American Almond’s business fits perfectly with our overall strategy to further strengthen our market position in adjacent ingredients products for both our Gourmet & Specialties and Food Manufacturers Products business. The acquired business will significantly broaden our product portfolio and open up attractive new growth opportunities as it complements our chocolate and cocoa product offerings.”
Barry Callebaut will integrate the company into its Region Americas business from August 1 this year.