Barry Callebaut successfully closes acquisition of the Cocoa Ingredients Division from Petra Foods

Barry Callebaut / Barry Callebaut successfully closes acquisition of the Cocoa Ingredients Division from Petra Foods . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Creation of world's largest cocoa and chocolate manufacturer

• Excellent strategic fit at the core of Barry Callebaut's existing business, supporting the company's overall growth
• Creating the world's leading cocoa powder supplier, in addition to being the global leader in chocolate
• Implementation of the integration master plan to start immediately, expected to be completed within 12-18 months
• Purchase price approx. USD 860 million
• Confirmed mid-term guidance as of consolidation: 6-8% average volume growth per year and EBIT per tonne restored to pre-acquisition level until 2015/16^[1]

Zurich/Switzerland - July 1, 2013 - Barry Callebaut, the world's leading manufacturer of high-quality cocoa and chocolate products, successfully closed the acquisition of the Cocoa Ingredients Division from Singapore-based Petra Foods Ltd. as planned on June 30, 2013, following approval from the regulatory authorities. The combination of the two businesses makes Barry Callebaut the world's largest cocoa and chocolate manufacturer, fully integrated from bean sourcing to the manufacture of the finest chocolate products. It creates an organization with over 8,000 employees, an estimated annual sales volume of 1.6 million tonnes and CHF 6 billion (EUR 4.9 billion / USD 6.4 billion) in sales revenue, as well as further diversifying Barry Callebaut's global footprint to 50 factories on four continents.

Juergen Steinemann, Barry Callebaut's CEO, said: "The cocoa business we acquired from Petra Foods is right at the core of Barry Callebaut, and we will benefit from the know-how of our 1,800 new, highly motivated colleagues. It will support the further growth of our existing chocolate business. Being now also the largest global supplier of high-quality cocoa products, we will be able to capture opportunities in the fast-growing markets for specialty cocoa powders even better." Looking ahead, Mr. Steinemann added: "We are pleased that with the successful closing of the transaction, we can start to implement what we have prepared in the last six months and focus on the integration process."