Guan Chong buys German firm for RM138mil

“Schokinag will require 40% to 50% of the supply of cocoa ingredients from our upcoming cocoa processing plant in Cote D’Ivoire, ” said managing director and CEO Brandon Tay Hoe Lian.

KUALA LUMPUR: Guan Chong Bhd, the fourth largest cocoa grinder in the world, is buying an industrial chocolate maker based in Germany, expanding its downstream business following recent venture in Africa.

The company, in a statement, said it would pay €29.9mil (RM138mil) to acquire the entire equity interest in Schokinag Holding GmbH.