German chocolate manufacturer Halloren has announced a deal with a US distributor, a move the company claims will help boost its sales in the country.
A US distribution business called Charlie Distribution Company is to take a 49.9% stake in Bouchard Daskalidès, the Belgium-based chocolate firm in which Halloren owns 50% and had an option to buy 100%.
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In return, Halloren will hold a 25% stake in Charlie Distribution, a business on which there is no readily-available public information.
Asked by just-food for information on Charlie Distribution’s location and business interests, Halloren said: “At this point we are not in the position to give any further comments on our new partnership with Charlie Distribution Company LLC.”
However, Halloren insists the deal will help it grow its business in the US and, chairman Klaus Lellé said, in Asia.
“By agreeing to this strategic partnership, we are creating the best conditions to ensure that we are able to reach our growth targets in Asia and America,” Lellé said.
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By GlobalDataHalloren generates 50% of its EUR120m (US$152.8m) annual sales outside Germany. The company has set a target of increasing its turnover to EUR300m by 2018, with the help of deals like the partnership with the US distributor and via acquisitions.
By forming this partnership, we are further pursuing our strategy in foreign markets in a comprehensive way, which is necessary to achieve sustainable growth. This involves a focus on co-operations and the acquisition of companies that are an ideal addition to our portfolio,” Lellé added.
