Barry Callebaut AG / Barry Callebaut (SWISS: BARN) and Kraft Foods
Sign Global Supply Agreement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this announcement.
Barry Callebaut to become Kraft Foods key global cocoa and
industrial chocolate supplier under a long-term global master product
agreement
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, Cote
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.
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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
(http://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@barry-callebaut.com (mailto:evelyn_nassar@barry-callebaut.com) raphael_wermuth@barry-callebaut.com (mailto:raphael_wermuth@barry-callebaut.com)
The complete news release can be downloaded from the following link:
Press Release (PDF): http://hugin.info/100441/R/1443293/387473.pdf
(http://hugin.info/100441/R/1443293/387473.pdf)
HUG‥1443293
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Source: Barry Callebaut AG via Thomson Reuters ONE