Blommer Chocolate sold for $750 million
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Blommer Chocolate Co. is about to get a new owner in a deal worth about $750 million.
Fuji Oil Holding Inc., a Japanese company and a “global leader in oil and fat ingredients” in the food industry, is set to acquire the family-owned business that started in 1939, according to a Blommer statement. The deal is valued at $750 million, according to a statement from Fuji.
“For nearly 80 years, our family business has grown to become a major ingredients supplier to most of the iconic brands across a wide variety of food categories,” Peter Blommer, CEO and third-generation family member, said in a statement.
“This is a landmark event in the proud history of Blommer Chocolate Company and begins an exciting new chapter as we look forward to joining a highly respected global leader in Fuji Oil. Our companies share common values and a deep commitment to product quality, innovation and customer service. With our combined expertise in chocolate and fats and oils, both rooted in product and process innovation, we have the opportunity to create a broad global footprint from which to serve our customers and drive growth.”
Peter Blommer is set to continue to lead the company after the deal is completed, which is expected in 30 to 60 days, the company said.
Blommer has about 900 employees in total in the city and elsewhere in North America and China.