In a joint statement today, Barry Callebaut AG (SWX: BARN) and Mederer GmbH, a privately-held company specialized in fruit gum confections (Fürth, Germany), announced that Barry Callebaut will sell its Gummi Bear Factory assets located in Boizenburg and Hagenow, Germany to Mederer GmbH. The Gummi Bear Factory has a turnover of approx. 50 mio. DM. Terms of the proposed sale were not disclosed.
Andreas G. Schmid, Chairman and CEO of Barry Callebaut, said that the transaction will facilitate the achievement of Barry Callebaut's long-term goals. "The spin-off of our Gummi Bear Factory assets, (recently acquired as part of the acquisition of Van Houten), is consistent with our overall focus on profitable growth as a global leader in cocoa and chocolates. This move helps to focus management's attention on our core businesses and provides additional resources for further expansion, particularly in the higher margin gourmet and specialty cocoa and chocolate market segments."
"Mederer GmbH is a respected, leading supplier of fruit gums under the Trolli brand with operations throughout Europe, Asia-Pacific and South America. The addition of the Gummi Bear Factory will strengthen our presence within Europe, provide additional needed capacities and should prove a significant benefit to our customers both in terms of products and service," said Herbert W. Mederer, CEO of Mederer GmbH.
Pending regulatory approval and other customary conditions, the transaction is expect to be completed by the end of September this year.
Barry Callebaut is the world leading producer and marketer of high-quality chocolate and cocoa-related products for manufacturers and chocolate makers. In 21 production sites, located in 12 countries Barry Callebaut processes 12% of the world's cocoa beans. With a market share of 38% and a turnover of approx. CHF 2,5 billion, it is the main supplier in the chocolate and compound coating industry, with customers ranging from small local businesses to multi-national companies.