Barry Callebaut to acquire Gertrude Hawk Ingredients
Cocoa products and chocolate manufacturer Barry Callebaut has signed an agreement to acquire the ingredients division of US-based Gertrude Hawk Chocolates in a move that will expand the company’s product portfolio into new markets.
Gertrude Hawk Ingredients is known for its technological developments and processes to make ice cream and baking inclusions. The deal, which follows Barry Callebaut’s recent acquisition of decoration and inclusion supplier D’Orsogna Dolciaria, will allow Barry Callebaut to expand its portfolio with new technologies for shell moulding, panning, and enrobing.
In 2016-17, Gertrude Hawk Ingredients sold around 13,000 tonnes of ingredients, generating approximately €70 million in sales. The acquisition will also include the company’s facility in Scranton, Pennsylvania, which employs around 370 people.
Antoine de Saint-Affrique, CEO of Barry Callebaut, says, “The acquisition allows us to expand our product portfolio into new markets, and offer an even wider range of products and services than before.
“Gertrude Hawk Ingredients will play a cornerstone role in our speciality and decorations business and we intend to further build on their team and their capabilities.”
Dave Hawk, chairman of Gertrude Hawk Chocolates, adds, “Barry Callebaut has at its fingertips everything needed to continue the growth of the business, including a seasoned, highly respected sales force that calls on virtually every baker and ice cream maker of any size around the world.”
The transaction, which is subject to regulatory approval, is expected to close in October. Financial terms of the deal have not been disclosed.