Cargill to acquire Aalst, leading Asian chocolate supplier
PR91144
SINGAPORE, Aug. 24, 2021 /PRNewswire=KYODO JBN/ --
-- Investment expands Cargill's Asia-Pacific cocoa & chocolate offerings
in a move to better serve industrial and foodservice customers.
Responding to an Asian marketplace sweet on chocolate products, Cargill has
entered into an agreement to acquire Aalst Chocolate Pte. Ltd. (
https://www.aalstchocolate.com/ ), a Singapore-based world-class chocolate
manufacturer. Pending regulatory approval and closing conditions, the
acquisition will significantly expand Cargill's Asia-Pacific footprint, adding
chocolate to its existing portfolio of cocoa products, already sold throughout
the region.
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"The rapidly growing Asian marketplace is increasingly wielding its influence
around the globe, sparking inspiration and driving international trends," said
Francesca Kleemans, managing director for Cargill Cocoa & Chocolate
Asia-Pacific. "Joining with Aalst strengthens our position in this critical
region, enabling us to become the supplier-of-choice for industrial and
foodservice customers. With an expanded selection of value-added and specialty
chocolate products and deep technical expertise, together we can accelerate
innovation, better helping customers create products that continue to surprise
and delight."
Aalst's large customer base spans more than 50 countries, exporting to
industrial, retail and foodservice clients in key markets such as India, China,
Southeast Asia, Oceania, Korea and Japan. Its comprehensive portfolio features
six distinct brands, with offerings that include both bake-stable and artisan
chocolates and compounds, in addition to a range of premium retail chocolate
products and luxury pralines.
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 that aims to ensure a thriving cocoa
sector for generations to come.
Upon completion of the transaction, all Aalst assets, including its
state-of-the-art manufacturing plant in Singapore, R&D capabilities in
Singapore and Shanghai, and its over 200 employees across the region, will join
Cargill's cocoa and chocolate Asia-Pacific operations. Singapore, with its
unparalleled supply chain infrastructure and extensive international trade
agreements, remains Cargill's strategic regional business hub.
"Singapore and made-in-Singapore products are both highly regarded and reputed
for meeting stringent world-class standards. We are proud of Aalst Chocolate's
heritage as a Singapore company with a renowned presence of over 18 years in
Asia's chocolate industry. Together with Cargill's global expertise and
experience, we believe that this new venture will be well-positioned to harness
the full potential of exciting synergetic growth possibilities and become an
ideal integrated chocolate solution provider for our customers," said Richard
Lee, Founder & CEO of Aalst Chocolate Pte Ltd.
On the heels of Cargill's acquisition of Aalst, the company is gearing up to
start its first Asian chocolate manufacturing operations in India (
) next month, producing chocolate and chocolate compounds for the domestic
market.
Prior to this, Cargill opened its first Asian cocoa processing facility in
Gresik, Indonesia in 2014, and subsequently launched new Gerkens(R) cocoa
powders for the region in 2016 (
) and 2019. Today's announcement further affirms Cargill's commitment to the
sector and expands its presence in the fast-growing Asia-Pacific cocoa and
chocolate market, positioning the company as a trusted cocoa supplier, local
chocolate manufacturer and regional chocolate expert.
About Cargill
Cargill's 155,000 employees across 70 countries work relentlessly to achieve
our purpose of nourishing the world in a safe, responsible and sustainable way.
Every day, we connect farmers with markets, customers with ingredients, and
people and animals with the food they need to thrive.
We combine 155 years of experience with new technologies and insights to serve
as a trusted partner for food, agriculture, financial and industrial customers
in more than 125 countries. Side-by-side, we are building a stronger,
sustainable future for agriculture. For more information, visit Cargill.com (
) and our News Center (
).
About Cargill Cocoa & Chocolate
Cargill Cocoa & Chocolate provides high quality cocoa and chocolate more
sustainably throughout the world and brings our customers peace of mind,
integrity and excitement. With balanced efforts on security of supply,
sustainability projects and sensory expertise, we create a wide range of
outstanding standardized and custom-made products and services. In addition, we
provide our customers with extensive market knowledge. We grow a robust, fair
and transparent supply chain, from bean to bar, eager to continuously shape
industry standards. To ensure a more sustainable supply of quality cocoa beans,
Cargill established our own sourcing and trading operations at origin in
Brazil, Cameroon, Côte d'Ivoire, Ghana and Indonesia. Our Cargill Cocoa Promise
underlines our commitment to enable farmers and their communities achieve
better incomes and living standards. Our team of 4,100 passionate cocoa and
chocolate experts work across 57 locations and are part of Cargill's 155,000
colleagues around the world. For more information, visit
cargillcocoachocolate.com (
).
About Aalst Chocolate
Established in 2003, Aalst Chocolate has the distinction of being the first
Singaporean–owned chocolate manufacturer. We are dedicated to excellence in our
quest to produce the best chocolate products in the industry, having invested
in state-of-the-art production facilities in Singapore.
Modern manufacturing and automated facilities, stringent selection of raw
materials, together with technical expertise, led by professional management
ensure that quality chocolate and compounds are produced efficiently. Aalst
aims to meet or even exceed the exacting requirements of the market and
customers' expectation.
Our factory also specializes in the production of customizable and tailor-made
chocolate products. Innovation continues to be a key driving force for Aalst's
success which is reflected in our substantial investment on Research and
Development. Together with our experienced in-house Product Development team
and research and development centres in Singapore and China, Aalst Chocolate is
now in the position to deliver total and seamless chocolate solutions.
Source - Cargill, Inc.
CONTACT: Michael Miao, Kelly Sheehan, media@cargill.com
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