Barry Callebaut: to sell Van Houten Singapore consumer business

Zurich / CH. (bc) Barry Callebaut AG sold 100 percent of its consumer company in Asia, Van Houten Singapore, to The Hershey Company, effective February 28, 2009. While retaining ownership of the traditional Van Houten Brand, Barry Callebaut will grant to Hershey a perpetual, exclusive license of the Van Houten brand name and related trademarks in Asia Pacific, the Middle East and Australia / New Zealand for consumer products. Barry Callebaut will continue to use the well-known Van Houten brand in its gourmet and vending mix business worldwide. The two parties did not disclose financial details of the transaction.

Founded in 1990, Van Houten Singapore successfully develops and markets popular consumer chocolate products throughout Asia. Fiscal 2007/2008 sales revenue was approximately 20 million USD. Van Houten Singapore employs a staff of five people.

Maurizio Decio, President Asia-Pacific of Barry Callebaut: «This divestiture will allow Barry Callebaut to focus entirely on our business with industrial and gourmet customers in Asia and the Middle East, which is our core business. The growth markets of Asia are a prime target for us that we want to develop fast in order to benefit from the first-mover effect».

Ted Jastrzebski, Senior Vice President, President Hershey International: «Van Houten is an established brand with a growing, profitable Asian business. This acquisition complements our existing business in Asia and gives Hershey an immediate in-market presence in several high-potential markets, including Malaysia and Indonesia. This transaction continues Hershey’s global strategy of entering growth markets through acquisitions and partnerships».