Barry Callebaut's new CEO Hein Schumacher faces turnaround challenge at world's largest chocolate-maker
By
The Economist
Hard crust, hollow middle. Skim only.
Summary
Barry Callebaut, the world's largest chocolate-maker based in Zurich, supplies cocoa-based products for major brands like Magnum, KitKat, Cadbury, and Milka. Formed 30 years ago by billionaire Klaus Jacobs through the merger of France's Cacao Barry and Belgium's Callebaut, the company buys about a quarter of the global cocoa harvest annually. The article discusses whether new CEO Hein Schumacher's turnaround plan will succeed for the struggling chocolate giant.
Key quotes
· 3 pulledITS products tempt you from supermarket shelves everywhere, but you may not know its name.
Formed 30 years ago when Klaus Jacobs, a German-born billionaire, folded together France's Cacao Barry and Belgium's Callebaut, Barry Callebaut is the world's biggest chocolate-maker.
The Zurich-based firm buys about a quarter of the annual global cocoa harvest and turns it into chocolate for Magnum's ice creams, Nestlé's KitKats and Mondelez's Cadbury and Milka brands.
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