Nestle, Barry Callebaut enter long-term supply contract; no financial details |
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Thu, 15 Feb 2007 18:57
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ZURICH (AFX) - Nestle AG and Swiss chocolate maker Barry Callebaut AG announced plans for a long-term supply contract, including the transfer of production facilities from Nestle to Barry Callebaut.In turn, Barry Callebaut will supply chocolate mass for Nestle's chocolate factories in Russia, the two companies said.Financial details of the transaction were not disclosed.Under the terms of the agreement, Nestle said it will sell its cocoa liquor and chocolate mass production facility at the San Sisto factory in Perugia and its chocolate factory in Dijon to Barry Callebaut.Barry Callebaut said the transaction will add around 100,000 metric tonnes to its chocolate production capacity.The deal is still subject to employee consultation as well as to regulatory approval and is expected to be signed during the summer of 2007.afx.zurich@afxnews.comat/harCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Barry Callebaut Q1 sales beat forecasts due to strong growth in Europe, Asia 