Barry Callebaut to scale up US production to cope with 'disruptive environment'
By Paolo Laudani and Isabel Demetz
(Reuters) - Barry Callebaut is planning to increase its U.S.-based production to fend off effects of the "disruptive environment" in North America and stay close to its customers, the Swiss chocolate maker's chief executive said on Thursday.
"We have one ... facility that we will scale out to about 100,000 tons in the United States that will allow us to actually serve customers better also in the U.S.," CEO Peter Feld said during a post-earnings call with analysts.
He also said that the cocoa processor, which supplies chocolate for Unilever's soon-to-be-spun-off Magnum ice creams and Nestle's KitKat bars, was doubling down on investments in its plant in Brantford, Canada.
Companies with operations in the United States are grappling with on-again, off-again tariff announcements from President Donald Trump, who in a stunning reversal on Wednesday paused most of his hefty duties but left a 10% blanket tariff on almost all U.S. imports.
In March, chocolate maker Lindt said it would supply chocolate made in Europe to Canada to avoid Canadian tariffs imposed to counter the higher U.S. customs duties.
North America made up more than one-tenth of Barry Callebaut's global sales volume measured in metric tons in the 2023/24 financial year.
"We believe that we've seen the worst quarter behind us," Feld said after the world's biggest chocolatier lowered its annual volume guidance as part of its half-year update, which sent its shares down to twelve-year lows.
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