Swiss Barry Callebaut completes Italy's D’Orsogna Dolciaria acquisition
Global chocolate and cocoa products manufacturer Barry Callebaut has completed the acquisition of D’Orsogna Dolciaria, which is a family owned Italian business-to-business company.
Financial details of the transaction have not been disclosed by the companies.
In July, the chocolate manufacturer signed an agreement to acquire D’Orsogna Dolciaria, which provides decoration and inclusion solutions to the producers of ice cream, dairy, and bakery products.
With this acquisition, Barry Callebaut intends to strengthen its specialities and decorations business in Europe by expanding its existing offering with amaretti, meringues, cookies, glazings, toppings, inclusions, and other products for ice cream, yoghurts, snacks and chocolate decorations.
Barry Callebaut CEO Antoine de Saint-Affrique stated that the agreement highlights the company's 'smart growth' strategy and allows its to develop its specialties and decorations business.
Antoine de Saint-Affrique added: “D’Orsogna Dolciaria brings unique capabilities that will enable us to offer more value added to our food manufacturers and gourmet customers, especially in the ice cream and dairy market segments.”
The integration of businesses is expected to begin immediately.
Gianni Origoni Grippo Cappelli and Partners acted as legal advisors for Barry Callebaut, while D’Orsogna Dolciaria was assisted by UBS Corporate Advisory Group. D'Orsogna Dolciaria also employed Varrenti Avvocati as legal advisors in association with Tonucci and Partners.
In 2016, the sales volume of D’Orsogna Dolciaria was around 12,000t, with sales revenues of roughly €52m. It has three facilities in Italy, India, and Canada and employs around 300 people.