The Barry Callebaut Group has signed an agreement to acquire GKC Foods (Australia) Pty Ltd. GKC Foods is a producer of chocolate, coatings, and fillings, serving many consumer chocolate brands in Australia and New Zealand.
The acquisition of GKC Foods allows the Barry Callebaut Group to expand its position in the industrial chocolate market. Barry Callebaut will proceed to work with local distributors across Australia and New Zealand. The distributors have been importing and distributing Barry Callebaut’s chocolate and cocoa products to the country since the 1970s.
Barry Callebaut’s investment involves expanding and upgrading the factory’s existing infrastructure, installing a new state-of-the-art chocolate production line, and deploying an integrated management system to enhance automated production. The company will also employ about 50 people, including GKC Foods’ existing employees, who will transfer to Barry Callebaut upon completion of the transaction.
Ben De Schryver, President of Barry Callebaut in the Asia Pacific, stated that the company believes in the growth options of the Australian and New Zealand chocolate confectionery markets. The company hopes that it could grow its products and also its competitive advantage.
According to Euromonitor, Australia, and New Zealand have an average chocolate consumption of around 5 kilograms per capita, the highest per-capita chocolate consumption in the Asia Pacific. Also, Nielsen stated that in Australia, the demand for chocolate has been on the rise. The chocolate confectionery market in the country grew above the global market.