KALMTHOUT, BELGIUM — Cargill has reached agreement to acquire Smet, a Belgium-based supplier of chocolate and sweets decorations. Smet has five production facilities, two R.&D. centers and eight sales and support offices located in Asia, Europe, India and North America.
Financial terms of the transaction were not disclosed.
“The proposed acquisition emphasizes Cargill’s commitment to its customers in the gourmet segment, building on the strengths of both organizations and enhancing complementary capabilities,” said Inge Demeyere, managing director of Cargill’s chocolate activities in Europe. “We will broaden our product portfolio and services to artisans and chocolatiers, bakery, hospitality businesses and food service industries. Smet enjoys great market recognition. As their brand joins Cargill’s existing brand portfolio, their unique entrepreneurial capabilities will be leveraged to allow for a dedicated focus on gourmet customers.”
Cargill said the acquisition of Smet will provide “significant opportunities” to accelerate growth in the gourmet category. The company expects customers to benefit from high speed-to-market with new decoration technology, enhanced production capabilities and a wide-ranging product portfolio.
Smet’s products include chocolate decorations, cups and shells, shavings, industrial chocolate, transfer sheets, and hollow figurines. The company’s target audiences include dairy, cereal, bakery and dessert, confectionery and wholesale and food service.
“For over five decades, Smet is driven by a passion for chocolate and stands out with a relentless problem-solving attitude, innovative mindset and great flexibility,” said Theo Graban, executive member of the board of Smet.
Johan Smet, chief executive officer of Smet, added, “Cargill provides us with a unique opportunity to serve our customers with a globally integrated cocoa and chocolate supply chain, a renowned sustainability approach and deep chocolate expertise.”
Cargill’s cocoa and chocolate business includes processing plants in Belgium, Brazil, Canada, Côte d’Ivoire, France, Germany, Ghana, Indonesia, The Netherlands, the United Kingdom and the United States. The company’s product range includes Gerkens cocoa powders, chocolate, coatings, fillings, cocoa liquors and cocoa butters.