Notwithstanding the rising prices of almond, American Almond Products Co., a major supplier of nuts in US, has been acquired by Barry Callebaut, a Swiss-based company.
"American Almond's business fits perfectly with our overall strategy to further strengthen our market position in adjacent ingredients products for both our Gourmet & Specialties and Food Manufacturers Products business," CEO and President of Barry Callebaut Group, Dave Johnson noted as reported by Confectionery News.
Johnson also stated that their new business acquisition will greatly expand their product portfolio. It will be a start of new business opportunities since the company is in line with their chocolate and cocoa product offerings.
In 2012, la Morella Nuts' ownership was transferred to this group as a means to grow the existence of a certain sector of the company, which is the same reason for the acquisition of American Almond.
With about $16 million of sales revenue and annual generation of two million kilograms of nut products, American Almond took the lead in this kind of business.
The President and Chief Executive of American Almond, Vic Frumolt, expressed his thrill for the new growth opportunity that is on their way. They are excited to become a strategic part of the Barry Callebaut Group and give their costumers more quality products. This is an advantage to Almond because they will have sales and distribution resources.
More information of the deal was not to be revealed as agreed by both parties.
As reported by Food Dive, the company two company believe that their integration which will start on August 1, 2015 will not just benefit them but the Group's Gourmet and Food Manufacturers' customers as well especially those who are located in North America.
American Almond's customer portfolio, recipes, brands and manufacturing equipment are the assets which the group will integrate to their system.
