Barry Callebaut, Natra terminate merger talks

by Eric Schroeder
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ZURICH, SWITZERLAND — Barry Callebaut and Natra, a European private label chocolate player, have terminated negotiations that would have integrated Barry Callebaut’s European consumer chocolate business into Natra. The companies cited "a gap in the valuation of the two companies."

"Our strategic decision to exit the consumer chocolate business remains unchanged," said Andreas Jacobs, chairman of Barry Callebaut. "However, we are under no time or financial pressure. We will carefully analyze all strategic options to find the best possible solution."

The two companies first agreed to a memorandum of understanding in late February. The potential combination of the businesses would have created a significant private label and third-party chocolate products maker in Europe with estimated annual sales of around €850 million.

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