05 March 2019 | News
The combined business will provide significant opportunities to accelerate growth in the gourmet segment.
Cargill’s cocoa and chocolate business and Smet, a leading Belgium-based supplier of chocolate and sweets decorations to the food service and confectionary markets, announce their intent to bring together their global gourmet chocolate activities.
“The proposed acquisition emphasizes Cargill’s commitment to its customers in the gourmet segment, building on the strengths of both organisations and enhancing complementary capabilities. We will broaden our product portfolio and services to artisans and chocolatiers, bakery, hospitality businesses and food service industries,” says Inge Demeyere, managing director of Cargill’s chocolate activities in Europe, “Smet enjoys great market recognition. As their brand joins Cargill’s existing brand portfolio, their unique entrepreneurial capabilities will be leveraged to allow for a dedicated focus on gourmet customers.”
“Together we intend to further strengthen our customer relationships and we look forward to continuing to serve customers’ chocolate needs, today and in the future.”
The combined business will provide significant opportunities to accelerate growth in the gourmet segment. Customers will benefit from increased intimacy and high speed-to-market with new decoration technology, enhanced production capabilities and a wide-ranging product portfolio. Smet has a global distribution network for gourmet products, two fully owned manufacturing sites in Belgium and Poland, and almost 90 employees.
Entry into the acquisition agreement is subject to information and/or consultation procedures with the appropriate employee representative bodies. The transaction is expected to close in the first half of 2019.