Cargill announced it has entered into an agreement to acquire Aalst Chocolate Pte. Ltd., a Singapore-based world-class chocolate manufacturer.
The acquisition will significantly expand Cargill’s Asia-Pacific footprint, adding chocolate to its existing portfolio of cocoa products, already sold throughout the region, the statement said.
“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.
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, the company said.
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