Cargill Acquires German Chocolate Business
Cargill is expanding its cocoa and chocolate business in Europe through the acquisition of. KG Kakao Verarbeitung Berlin (KVB), an integrated chocolate company based in Germany, for an undisclosed sum. KVB operates two production plants, both in Berlin.
The two plants have a capacity of over 75,000 tonnes of chocolate per year and employ around 180 people. Upon completion of the deal, after clearance from the regulatory authorities, KVB and its employees will become part of Cargill’s global network of cocoa and chocolate businesses.
“This acquisition marks a significant step in Cargill’s chocolate growth strategy in Europe and our ability to better serve our existing and future customers,” comments Jos de Loor, head of Cargill’s cocoa and chocolate business. “The acquisition will strengthen Cargill’s position in Germany, the largest chocolate market in Europe, and create opportunities to expand our chocolate business into new markets.”
KVB’s two Berlin plants will complement Cargill’s existing German cocoa and chocolate facilities in Klein Schierstedt and Hamburg. Completion of the acquisition is expected in the first part of 2011.
