Barry Callebaut closes GKC Foods acquisition

  • 1 July 2020
Integration of the Aussie business into the Swiss chocolate corporation has started
Barry Callebaut acquisition of GKC Foods in Australia
Barry Callebaut’s investment involves upgrading and expanding the factory’s existing infrastructure

The Barry Callebaut Group has closed the acquisition of GKC Foods. The Swiss chocolate and cocoa products maker said the integration of the business has started.

The transaction has been completed in record time. Barry Callebaut announced the deal the last week of May. Details of the transaction have not been disclosed.

A Melbourne-based company, GKC Foods makes organic and vegan chocolate for dedicated shops, gourmet delis, speciality food outlets, and key retailers in Australia and New Zealand

Ben De Schryver, president of Barry Callebaut in Region Asia Pacific, commented: “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. We strongly believe in the growth opportunities in these still largely captive markets.”

For the Swiss corporation, the acquisition of GKC Foods empowers the group to expand its position in the industrial chocolate market and to leverage its value-adding gourmet and specialities business in Australia and New Zealand.

Australia and New Zealand have an average chocolate consumption of approximately five kilograms per capita, the highest per-capita chocolate consumption in Asia Pacific, according to Euromonitor.

In Australia, demand for chocolate has been on the rise. Nielsen data show the chocolate confectionery market in the country has grown well above the global market.