Petra Foods' acquisition lifts Barry Callebaut sales

by Jeff Gelski
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ZURICH, SWITZERLAND — Thanks to a recently acquired cocoa business, Barry Callebaut achieved sales volume growth of nearly 20% and sales revenue growth of more than 21% in the first quarter ended Nov. 30, 2013.

Sales volume of 463,996 tonnes compared with 388,160 tonnes in the previous fiscal year’s first quarter. Excluding the June 2013 acquisition of the cocoa business from Singapore-based Petra Foods, sales volume growth was 4.6% to 406,163 tonnes. In comparison, the global chocolate confectionery market grew by 3.4% in volume.

Barry Callebaut’s sales revenue in the first quarter was 1,515.3 million Swiss francs ($1,369.9 million), which compared with 1,248.4 million Swiss francs in the previous year’s first quarter. Excluding the acquisition of the cocoa business, sales revenue growth was 5.5% to 1,317.5 million Swiss francs.

Sales volume in Barry Callebaut’s global cocoa segment rose 91% to 127,520 tonnes, mostly driven by the cocoa business acquisition. Sales revenue in the segment increased 8.5% to 240.6 million Swiss francs ($217.8 million).

“Our three key growth drivers — geographic expansion, outsourcing and partnership agreements, and our gourmet business — have maintained their momentum, with emerging markets and gourmet delivering particularly strong growth,” said Juergen Steinemann, chief executive officer of Zurich-based Barry Callebaut, when first-quarter results were given Jan. 15. “The integration of the acquired cocoa business continues to make good progress. As of the beginning of the fiscal year, all integration-related work streams have been transferred into our operational activities and are on track as planned.”

In Region Americas in the first quarter, sales volume rose 10% to 115,753 tonnes and sales revenue rose 6% to 317.6 million Swiss francs.
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