KALMTHOUT, BELGIUM — Cargill has reached agreement to obtain Smet, a Belgium-primarily based supplier of chocolate and sweets decorations. Smet has 5 production facilities, two R.&D. centers and eight sales and help offices situated in Asia, Europe, India and North America.
Economic terms of the transaction have been not disclosed.
“The proposed acquisition emphasizes Cargill’s commitment to its prospects in the gourmet segment, constructing on the strengths of each organizations and enhancing complementary capabilities,” mentioned Inge Demeyere, managing director of Cargill’s chocolate activities in Europe. “We will broaden our solution portfolio and solutions to artisans and chocolatiers, bakery, hospitality organizations and meals service industries. Smet enjoys fantastic market place recognition. As their brand joins Cargill’s current brand portfolio, their exceptional entrepreneurial capabilities will be leveraged to let for a committed concentrate on gourmet prospects.”
Cargill mentioned the acquisition of Smet will supply “significant opportunities” to accelerate development in the gourmet category. The firm expects prospects to advantage from higher speed-to-market place with new decoration technologies, enhanced production capabilities and a wide-ranging solution portfolio.
Smet’s goods incorporate chocolate decorations, cups and shells, shavings, industrial chocolate, transfer sheets, and hollow figurines. The company’s target audiences incorporate dairy, cereal, bakery and dessert, confectionery and wholesale and meals service.
“For more than 5 decades, Smet is driven by a passion for chocolate and stands out with a relentless issue-solving attitude, revolutionary mindset and fantastic flexibility,” mentioned Theo Graban, executive member of the board of Smet.
Johan Smet, chief executive officer of Smet, added, “Cargill delivers us with a exceptional chance to serve our prospects with a globally integrated cocoa and chocolate provide chain, a renowned sustainability method and deep chocolate experience.”
Cargill’s cocoa and chocolate small business contains processing plants in Belgium, Brazil, Canada, Côte d’Ivoire, France, Germany, Ghana, Indonesia, The Netherlands, the United Kingdom and the United States. The company’s solution variety contains Gerkens cocoa powders, chocolate, coatings, fillings, cocoa liquors and cocoa butters.