Barry Callebaut and Kraft Foods Sign Global Supply Agreement
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· Barry Callebaut to become Kraft Foods key global cocoa and industrial
chocolate supplier under a long-term global master product agreement
Zurich, Switzerland, September 9, 2010 - Barry Callebaut, the world's largest
manufacturer of high-quality cocoa and chocolate products, and Kraft Foods Inc.
(NYSE: KFT), the world's second largest food company and a global leader in
confectionery, today announced the signing of a long-term global master product
agreement. Under the terms of the agreement, the parties expect Barry Callebaut
to deliver the majority of Kraft Foods cocoa products and industrial chocolate
requirements around the world. The agreement, which also includes some of the
Cadbury liquid chocolate deliveries under the current outsourcing agreement, is
expected to more than double Barry Callebaut's existing business with Kraft
Foods. The parties agreed not to disclose any further terms of the agreement.
As a result of this agreement, Barry Callebaut will increase its production
capacities primarily in the United States, Canada, Côte d'Ivoire, Malaysia as
well as in Europe and invest approximately USD 65 million (CHF 66 million / EUR
51 million) over the next two years. The additional volumes will be built up
gradually over a period of three years, starting immediately.
Juergen Steinemann, Chief Executive Officer of Barry Callebaut, said: "This
long-term global supply agreement with Kraft Foods ranks amongst the largest
strategic deals our company has ever signed. It means that we have succeeded in
firmly establishing ourselves as a leading supplier for cocoa and chocolate
products to the international food industry. We are excited about this
partnership between two leading companies in their field which is evidence of
the ongoing outsourcing and partnership trend in the chocolate industry."
* * *
About Barry Callebaut (www.barry-callebaut.com):
With annual sales of about CHF 4.9 billion / EUR 3.2 billion / USD 4.3 billion
for fiscal year 2008/09, Zurich-based Barry Callebaut is the world's leading
manufacturer of high-quality cocoa and chocolate - from the cocoa bean to the
finished product on the store shelf. Barry Callebaut is present in 26 countries,
operates more than 40 production facilities and employs about 7,500 people. The
company serves the entire food industry, from food manufacturers to professional
users of chocolate (such as chocolatiers, pastry chefs or bakers), to global
retailers. Barry Callebaut is the global leader in cocoa and chocolate
innovations and provides a comprehensive range of services in the fields of
product development, processing, training and marketing. The company is actively
engaged in initiatives and projects that contribute to a more sustainable cocoa
supply chain.
Contacts at Barry Callebaut
for investors and financial analysts: for the media:
Evelyn Nassar, Head of IR Raphael Wermuth, External Communications
Barry Callebaut AG Barry Callebaut AG
Phone: +41 43 204 04 23 Phone: +41 43 204 04 58
evelyn_nassar(at)barry-callebaut.com raphael_wermuth(at)barry-callebaut.com
The complete news release can be downloaded from the following link:
[HUG#1443293]
--- End of Message ---
Barry Callebaut AG
P.O. Box Zurich null
WKN: 914661;ISIN: CH0009002962;
Press Release (PDF):
http://hugin.info/100441/R/1443293/387473.pdf
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Source: Barry Callebaut AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 09.09.2010 - 07:00 Uhr
Sprache: Deutsch
News-ID 41820
Anzahl Zeichen: 0
contact information:
Town:
Zurich
Kategorie:
Business News
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