ZURICH, July 20 (Reuters) - Barry Callebaut has agreed to purchase Italian family-owned specialties and decorations business D’Orsogna Dolciaria for an undisclosed sum.
The world’s biggest chocolate and cocoa product maker said the acquisition of D’Orsogna Dolciaria would help the Swiss group expand its current offerings to supply customers with amaretti, meringues, cookies, glazings, and other products for ice cream, yogurts, snacks and chocolate decorations.
With three production facilities located in Italy, India and Canada, D’Orsogna Dolciaria saw revenues of roughly 52 million euros ($59.85 million) in 2016 and sales volumes of around 12,000 tonnes.
The transaction is expected to close in September 2017, subject to regulatory approval. ($1 = 0.8688 euros) (Reporting by Brenna Hughes Neghaiwi, editing by John Revill)