Barry Callebaut delivers Eurobond buyback tender in key financial move
Barry Callebaut at a previous Sweets & Snacks Expo, with the company heading to the latest edition of the show next week. Pic: Barry Callebaut
Swiss-headquartered Barry Callebaut has confirmed the results of a multi-million key bond buyback tender, designed to stabilise its long-term financial position, writes Neill Barston.
Significantly, the move comes amid a period of core restructuring for the business, in the wake of its latest CEO, Hein Schumacher arriving at the company earlier this year.
As the business had acknowledged, last year saw the company endure levels of debt that had impacted its share values notably, and in turn saw the company raise its prices in early 2025 by a total of 63% as a countermeasure to cocoa volatility and increased operating costs.
Moreover, as Confectionery Production has reported, the company has just released its Focus for Growth Strategy, centred on driving value in its premium gourmet division, as well as investing significantly in its core manufacturing sites including in Wieze, Belgium, and plants in North America.
Indeed, its US operations have been a notable focus for the company, as it put in another major showing at this year’s Sweets & Snacks Expo event (see our exclusive video interview with the company’s US marketing director Laura Bergan below), as part of our overall event review.
Regarding its latest financial move, the Eurobond notes were issued by its service division involving bond totalling €900 million due 2028, €700 million, due 2029, and €850 million, due 2031.
According to the company, the final acceptance amounts were €399.9 million in aggregate principal amount for the 2028 Bonds, €99.1 million in aggregate principal amount for the 2029 Bonds and €350 million in aggregate principal amount for the 2031 Bonds. The Final Acceptance Amount is set at EUR 849 million.
Peter Vanneste, CFO of the Barry Callebaut Group. ” We are pleased with the outcome of our inaugural euro-denominated bond buy back tender. Buying back an amount of EUR 849 million enables us to further reduce gross debt and strengthen our credit metrics. The bond buy back also supports our ongoing journey to deleverage and reduce our financing costs.”
