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BULLETIN: Barry Callebaut's Acquisition of Am Foods Has No Effect on Ratings Jul 04
Standard & Poors, July 2004
Abstract
PARIS (Standard & Poor's) July 5, 2004--Standard & Poor's Ratings Services said today that the announcement by Swiss chocolate group Barry Callebaut AG (BB+/Stable/--) of its acquisition of AM Foods, the Sweden-based chocolate and cappuccino vending mix products specialist, will not affect the ratings on the group. AM Foods will strengthen Barry Callebaut's higher margin gourmet division and provide some manufacturing cost synergies with its Bensdorp and Van Houten vending mix brands. The acquisition will be funded from Barry Callebaut's existing medium-term bank lines. The acquisition price, which has not been disclosed, is not expected to materially weaken Barry Callebaut's debt measures, which at present remain in line with rating expectations. ANALYST E-MAIL ADDRESSES patrice_cochelin@standardandpoors.com vincent_allilaire@standardandpoors.com CorporateFinanceEurope@standardandpoors.com...
Companies mentioned in this report are: Barry Callebaut AG
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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