According to a Reuters report and CocoaRadar’s own sources, the Swiss-headquartered group is in the early stages of examining options that include spinning off the cocoa division, selling a minority stake, forming a joint venture or merger, or even divesting the business entirely, Reuters reported on Tuesday, citing three people familiar with the matter.
The aim is to reduce exposure to volatile cocoa prices and improve the group’s financial profile. There is no certainty that a separation will go ahead.
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Why Pivot Now?
If pursued, a split would mark one of the most consequential strategic shifts in Barry Callebaut’s modern history, with implications for cocoa farmers, grinders, multinational food companies and financial markets. It would also represent a rethink of the company’s long-held belief that full vertical integration – from cocoa bean sourcing to finished chocolate — offered the strongest competitive advantage.