Barry Callebaut announces settlement with Petra Foods

As a result of the settlement, Petra Foods has today paid to Barry Callebaut the lump sum of USD 38.8 m in cash. The negotiations were conducted amicably and outside the arbitration proceedings commenced by Petra Foods in December 2013, which proceedings are now discontinued.

As part of the settlement the parties agreed to extend the term of the cocoa supply agreement until end of June 2020. The parties agreed to not disclose any further details of the settlement. The dispute did not have any impact on the transfer of the Cocoa Ingredients Division to Barry Callebaut, which had been taken over entirely as of the closing of the transaction and was subsequently integrated into the Barry Callebaut Group’s cocoa business.