Closing of Brach’s sale to Farley’s & Sathers Candy Company Inc.
Press Release
Barry Callebaut finalizes sale of U.S. subsidiary
Barry Callebaut AG, the world’s leading manufacturer of high-quality cocoa and chocolate products, today said it completed the sale of its U.S. sugar candy business Brach’s to Farley’s & Sathers Candy Company Inc., as announced in September. The sale included all of the business and all assets of Brach’s and its affiliates, including three factories. The two parties agreed not to disclose any financial details of the transaction.
As already reported, Brach’s, headquartered in Dallas (Texas, U.S.A.), has annual gross sales of about USD 270 million, with sugar candy accounting for around 75% and chocolate products making up around 25%. The sale of the Brach’s sugar candy business allows Barry Callebaut to focus on its core business, chocolate.
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Barry Callebaut: With annual sales of more than CHF 4.1 billion (USD 3.6 billion) for fiscal year 2006/07, Zurich-based Barry Callebaut is the world’s leading manufacturer of high-quality cocoa and chocolate products – from the cocoa bean to the finished product on the store shelf. Barry Callebaut is present in 23 countries, operates more than 30 production facilities and employs approximately 8,000 people. The company serves the entire food industry, from food manufacturers to professional users of chocolate (such as chocolatiers, pastry chefs or bakers), to global retailers. It also provides a comprehensive range of services in the fields of product development, processing, training and marketing.
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