Puratos announced its largest acquisition yet in the chocolate industry: Canadian producer Foley’s Chocolates joins the Belgium-headquartered company in a deal that significantly increases Puratos’s chocolate market share and manufacturing capabilities in North America.
Puratos provides a comprehensive chocolate portfolio that includes plant-based, protein-enhanced, no sugar and sugar-reduced solutions.
Foley’s manufactures chocolate and compound coatings for industrial manufacturers in North America. The acquisition now makes it Canada’s second-largest chocolate producer and the country’s only manufacturer of ingredients for bakery, patisserie and chocolate, Puratos reveals.
“We’re all enormously proud and excited today,” comments Pierre Tossut, CEO at Puratos. “Foley’s is an excellent fit with Puratos’s innovation strategy and I have no doubt this acquisition will transform our Canadian chocolate business. Our mission is to help our customers to be even more successful with their business, providing them the best tasting, sustainable chocolate.”
Michael Simone, President at Puratos Canada, comments on the move. “In particular, we see huge potential for our Cacao-Trace chocolate, products that have proven sustainable credentials, such as independent life cycle analysis (LCA) data and plant-based chocolate, for which demand is soaring not just here, but worldwide.”