Cargill has announced that it has entered into an agreement to acquire Aalst Chocolate Pte. Ltd., a Singapore-based chocolate manufacturer.
Pending regulatory approval and closing conditions, the acquisition is set to significantly expand Cargill’s Asia-Pacific footprint, adding chocolate to its existing portfolio of cocoa products, already sold throughout the region.
Francesca Kleemans, Managing Director for Cargill Cocoa and Chocolate Asia-Pacific, said: “The rapidly growing Asian marketplace is increasingly wielding its influence around the globe, sparking inspiration and driving international trends. Joining with Aalst strengthens our position in this critical region, enabling us to become the supplier-of-choice for industrial and foodservice customers.”
By partnering together, the two companies will leverage their collective strengths, bringing customers increased security of a reliable supply of high-quality cocoa and chocolate products, better product sensory experience with their combined R&D competencies, and through the Cargill Cocoa Promise, access to a robust sourcing network.
The acquisition will see all Aalst assets, including its state-of-the-art manufacturing plant in Singapore, R&D capabilities in Singapore and Shanghai, and over 200 employees across the region, join Cargill’s cocoa and chocolate Asia-Pacific operations. Singapore will remain as Cargill’s strategic regional business hub.