BRUSSELS, June 7 EU regulators gave the green
light on Friday for Swiss chocolate maker Barry Callebaut
to buy the cocoa business of Singaporean group Petra
The EU's executive Commission found that the market would
still face sufficient competition after the two firms merged.
"In the markets for the production and sale of semi-finished
cocoa products, the parties' activities focus on different
regions, since Petra Foods is mainly active in Asia," the
Commission said in a statement.
The Swiss-based firm is the world's biggest maker of
finished chocolate products for clients such as Nestle
and Hershey, and buys roughly 650,000 tonnes of cocoa
annually around the globe.
The $950 million acquisition of Petra Food's cocoa business
should raise that number to roughly 1 million tonnes, and give
Barry Callebaut access to high-growth emerging markets. [ID: