Barry Callebaut has acquired Inforum, the Russian business-to-business producer of chocolate coatings and fillings, as it seeks to strengthen its position in the high-growth Russian market.
Founded in 1989, Inforum started by selling cocoa products and its portfolio now includes industrial chocolate, covertures, compound coatings and fillings. Last year the firm had revenues of €77 million.
The company operates a production site in Kasimov, Ryazan Oblast, and employs more than 300 people who will transfer to Barry Callebaut upon completion of the transaction.
Barry Callebaut, which opened a chocolate manufacturing plant in Moscow Oblast in 2007, said the acquisition will allow it to expand its market position, to leverage its value-adding gourmet and specialties business and to further increase market penetration in CIS countries.
Russia is the world’s second largest chocolate confectionery market in volume terms, and growth rates in volume terms are significantly higher than the global chocolate confectionery market.
Barry Callebaut CEO Antoine de Saint-Affrique said: “We are delighted to join forces with such an established, locally engrained Russian company. Inforum’s heritage and local knowledge, combined with our innovation capabilities and international experience, will reinforce each other’s strengths.
“Together, we will be able to bring further excellence and innovation to the market and to serve Russian consumer chocolate manufacturers even better.”
Inforum director of strategic development Evgeny Bulytov added: “I am very proud of the great chocolate business we have built from scratch during the last three decades. Our agreement with Barry Callebaut will ensure the successful future of Inforum and our team as part of a large, international group.
“We really like the business principles and the team spirit on which Barry Callebaut is based. One of the co-founders, Victor Voitov, will remain associated with the company as future chairman of the board of Barry Callebaut NL Russia and actively support the integration of Inforum into the Barry Callebaut Group during the transition period.”
It is expected the transaction will be completed by the end of the year.
© FoodBev Media Ltd 2024
