Closing of Brach's acquisition by Barry Callebaut

As already reported on September 1, 2003, Brach’s generated sales of approx. CHF 460 million / USD 340 million in fiscal year 2002/03. The acquisition of Brach’s gives Barry Callebaut a significant presence in the U.S. 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 CHF 4.1 billion / USD 3.0 billion. The results of Brach’s will be consolidated as of September 1, 2003. After the closing, Brach’s will now be integrated into the Barry Callebaut Group.

Terence (Terry) 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.

About Barry Callebaut:
Zurich-based Barry Callebaut is the world’s leading manufacturer of high-quality 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.

About Brach’s (www.brachs.com):
Brach’s Confections is one of America’s leading manufacturers of confections with sales of approximately USD 340 million / CHF 460 million (fiscal year 2002/03) and 1,600 employees. Founded in 1904 by Emil J. Brach, Brach’s produces nearly 200 varieties of confections including hard candies, chocolates and fruit snacks. The company is best known for its StarBrites Mints, Milk Maid Caramels and Maple Nut Goodies.