Cargill Cocoa & Chocolate

Cargill acquires Germany's KVB (18/02/2011)

The year got off to an exciting start as we announced the acquisition of the integrated chocolate company Schwartauer Werke GmbH & Co. KG Kakao Verarbeitung Berlin, known as KVB. The acquisition of this dynamic, customer-oriented company is a major step in our European growth strategy in chocolate. It builds on existing offerings and significantly expands our ability to serve our customers.

KVB has a strong presence in Germany, Europe's largest chocolate market. It possesses an impressive customer base and a professional and committed workforce at its two locations in Berlin. Its two plants employ 180 people and have a capacity of over 75,000 mt of chocolate per year.

KVB's plants will complement Cargill's existing German cocoa and chocolate facilities in Klein Schierstedt and Hamburg. The integration of KVB into our network will strengthen our ability to meet the needs of customers in the bakery, confectionery and ice-cream categories and create additional opportunities to deliver efficient and innovative solutions.

In addition, this transaction provides the basis for continued growth of KVB, both in Germany and internationally. As the two companies' operations are brought together and their people learn from each other's expertise, the aim is to create a superior chocolate house that will offer customers extensive choice, high quality and improved market reach.

Subject to regulatory approval, we hope to complete the transaction within the next months, at which point KVB will be fully integrated into Cargill Cocoa & Chocolate. We will keep you informed of developments.

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