Food & Beverage
Spayne Lindsay & Co. LLP advises Barry Callebaut on the sale of 74.7% of Chococam to Tiger Brands Limited.
Barry Callebaut has completed the sale of its 74.7% shareholding in its Cameroonian subsidiary Chococam to Tiger Brands Limited of South Africa. Spayne Lindsay & Co. LLP acted as financial adviser to Barry Callebaut on this transaction.
Chococam manufactures cocoa-based consumer products in its factory in Douala, Cameroon and sells these highly popular products in Cameroon, Nigeria and other countries of Central and West Africa. Chococam has annual sales of approximately €28 million and employs about 300 people. Tiger Brands Limited, a South African branded food and healthcare company that operates mainly in emerging markets, will take over the entire business including all employees.
The disposal by Barry Callebaut, the world’s leading manufacturer of highquality cocoa and chocolate, is in line with its strategy to focus on the business of cocoa bean sourcing and cocoa processing in Africa.
Spayne Lindsay is delighted to have been involved in this transaction, further demonstrating the international reach of its consumer investment banking franchise.