The Barry Callebaut Group has finalised the acquisition of Australian chocolate company GKC Foods, establishing its presence in Australia and New Zealand.
Ben De Schryver, president of Barry Callebaut in Asia Pacific, said the move catapults the business into the industrial chocolate market in what he says are “still largely captive markets” with many growth opportunities.
“We are happy to welcome the team of GKC Foods to the Barry Callebaut family. The heritage and local knowledge GKC Foods has built since the 1980s, combined with the expertise, the state of the art manufacturing processes and the capabilities of an undisputed leader in chocolate and cocoa innovation will bring further excellence to the Australia and New Zealand markets,” he said.
According to research company Euromonitor, Australia and New Zealand have an average chocolate consumption of approximately 5 kilograms per capita, the highest in Asia Pacific.
The GKC factory in Melbourne will be upgraded with a state-of-the-art chocolate production line and an integrated management system to enhance automated production.
The parties have agreed not to disclose any financial details of the transaction.