Blommer Chocolate Company, a leading ingredient chocolate supplier in North America, has recently unveiled that it has entered into an agreement to be sold to Fuji Oil Holding Inc., a leading producer of plant-based food solutions. Reportedly, all the Blommer business units located in North America and Shanghai are being acquired by Fuji Oil.
As stated by Peter Blommer, CEO of Blommer Chocolate, the age-old brand has been one of the most reliable suppliers of ingredient chocolate in the food industry and has been serving some of the iconic brands with more than 80 years of experience. As per credible sources, despite the deal, Peter Blommer, along with the board of senior management team will remain as one of the leaders of the company.
According to the CEO, combining the expertise will give the firm ample prospects for setting a firm foot in the industry, while driving growth and rendering customer satisfaction with the products.
The financial advisor for the transaction is reportedly BofA Merrill Lynch, whereas Skadden, Arps, Slate, Meagher and Flom LLP are playing the roles of legal counsel for Blommer. The terms of the transactions were not yet disclosed, however, the deal is expected to be completed within 30 to 60 days.
Hiroshi Shimizu, CEO and President of Fuji Oil Holdings, was quoted stating that Fuji Oil is a global manufacturer of food ingredients with chocolate, oil and fat, fermented and emulsified food, and soy protein businesses as its strong pillars. The company’s industrial chocolate business is a leader in the Asian market and has also expanded its reach across major parts of the world including South America and Europe.
As reported by Chicago Tribune, Blommer is the leading ingredient supplier in North America and the largest producer of Cocoa, and the third largest industry chocolate manufacturer in the world.