Barry Callebaut Buys Spanish Nut Manufacturer
The acquisition of La Morella Nuts underlines Barry Callebaut's strategic intention to strengthen its market position in adjacent products for both its Gourmet & Specialties Products and its Food Manufacturers Products business. Many of Barry Callebaut's customers are asking for combinations of chocolate and nut products.
La Morella Nuts manufactures about 8,000 tons of nut specialties per year and generated sales revenue of approx. CHF 40 million (EUR 33 million/$42 million) in 2011 with 90 employees. The company was founded in 1986 in Reus, Spain. La Morella Nuts has two plants in Castellvell del Camp and Reus, where its headquarters are located.
La Morella Nuts will be integrated in Barry Callebaut's business Region Europe as of January 2012.
Joaquim M. Barriach, CEO of La Morella Nuts, says, "We feel proud to become a part of Barry Callebaut. Their knowledge, market reach and combination with chocolate will help us to further grow our business. Barry Callebaut makes it possible for us to better position ourselves as a premier manufacturer of quality nuts."
Juergen Steinemann, CEO of Barry Callebaut, comments, "The acquisition of La Morella Nuts is an excellent addition to our business. With La Morella Nuts, we are becoming a leading expert in nut-based products, which is a great adjacent offering to our existing Gourmet and Food Manufacturers Products business in Europe, in line with our announced strategy."
The two parties have agreed not to disclose any financial details of the transaction.
From the January 11, 2012, Prepared Foods' Daily News.