Barry Callebaut acquires coca factory
October 05, 2007
by FoodBusinessNews.net Staff
ZURICH, SWITZERLAND — Barry Callebaut has signed an agreement to acquire Food Processing International, Inc. — a coca processing company based in Pennsylvania near Philadelphia.
"We are investing in coca operations because the taste and the quality of chocolate are already defined at this early processing stage," said Patrick De Maeseneire, chief executive officer of Barry Callebaut. "We need a modern site for the production of semi-finished products such as coca liquor, coca butter and coca powder in the United States to keep up with the current and future expectations of our customers, especially in the high-end quality segment, as well as our own internal needs."
The transaction is expected to close this month. Currently, a significant part of F.P.I.’s capacity utilization is secured by a long-term supply agreement F.P.I. has with existing customers for the delivery of up to 16,000 tonnes of cocoa liquor and up to 10,000 tonnes of coca powder and butter. Barry Callebaut expects to increase the production capacity of the factory to 50,000 tonnes within the next 2 to 3 years to meet needs for semi-finished products and to supply third-party customers. The total investment will be $51 million.