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Acquisition of Petra Foods hit profits at chocolate maker Barry Callebaut
date:Apr 09, 2013
The Swiss company, which makes chocolate and chocolate products for big food companies such as Nestle, spent $950 million in December on the cocoa liquor, butter and powder business of Singapore group Petra to step up expansion into high-growth emerging markets.

The acquisition will be financed by a $300 million capital increase and $600 million bond, which already cost Barry Callebaut its investment grade credit rating.

Chief Executive Juergen Steinemann said initial expenses related to the a

12/23 08:19