7 Jun 2023
Puratos today announces its largest acquisition to date in the chocolate industry. Esteemed Canadian producer Foley’s Chocolates joins the Belgium-headquartered provider of ingredients for bakers, patissiers and chocolatiers in a deal that significantly increases Puratos’s chocolate market share and manufacturing capabilities in North America. This major acquisition is a key strategic step for Puratos as it continues its growth based on the pillars of health and well-being, sustainability and innovation.
Puratos is now poised to offer customers its largest chocolate portfolio yet, including innovative plant-based, protein-enhanced, no sugar and sugar-reduced solutions.
Foley’s is a leading provider of real chocolate and compound coatings to industrial manufacturers in North America. Today’s agreement makes it Canada’s second-largest chocolate producer and the country’s only manufacturer of ingredients for bakery, patisserie and chocolate. As well as expanding Puratos’s market presence, the combined business will introduce a range of health and well-being-focused ingredients that cater to evolving consumer preferences.
"We’re all enormously proud and excited today," comments Pierre Tossut, CEO at Puratos. "Foley’s is an excellent fit with Puratos’s innovation strategy and I have no doubt this acquisition will transform our Canadian chocolate business. Our mission is to help our customers to be even more successful with their business, providing them the best tasting, sustainable chocolate.”
With a 40-year history, Foley’s has consistently been recognized as a pioneer in the chocolate industry; a characteristic it shares with its new owner. Customers throughout the North American region will have access to their supplier’s largest portfolio of innovative solutions yet, including protein chocolate and plant-based alternatives. Combined with the latest advancements in nutrition, the company aims to revolutionize the chocolate landscape.
Michael Simone, President at Puratos Canada, adds: "Our strategic fit brings together two highly talented, passionate teams to fuel innovation and move the chocolate industry forward by delivering outstanding products and customer experience. In particular we see huge potential for our Cacao-Trace chocolate, products that have proven sustainable credentials, such as independent life cycle analysis (LCA) data and plant-based chocolate, for which demand is soaring not just here, but worldwide.”
As well as unlocking synergies in expertise, manufacturing capacity and R&D, the new combined entity will implement a comprehensive sustainability program, ensuring responsible sourcing of ingredients, minimizing waste and supporting initiatives that promote a healthier planet.