Toronto, Ontario, June 07, 2023 — Puratos Canada today announces its acquisition of Foley’s Chocolate – a leading provider of real and compound chocolate to industrial manufacturers in North America. The agreement makes Puratos one of the largest chocolate producers in the country and the only domestic manufacturer of ingredients for bakery, patisserie and chocolate. As well as expanding the company’s market presence, the combined business will introduce a range of health and well-being-focused ingredients that cater to evolving consumer preferences.
“This acquisition is a moment of great pride for all of us,” comments Michael Simone, President at Puratos Canada. “Our strategic fit brings together two highly talented, passionate teams to fuel innovation and propel the industry forward by delivering outstanding products and customer experience.”
Puratos is now poised to offer its customers a portfolio of unmatched breadth including innovative solutions in real chocolate and compound, including plant-based, protein-enhanced, no sugar and sugar-reduced.
Andrew Elliott, President and CEO of Foley’s comments, “Joining the Puratos family means accelerating growth by leveraging the talents and incredible portfolio of the combined organization to bring our customers the same great quality and world-class service, with even more added value thanks to Puratos’ initiatives like Cacao-Trace and other innovations. Ultimately, we’ll be providing customers access to new product lines and services to help them grown and become more successful with their business – which is exactly what Puratos stands for.”
Combining leading expertise and heritage
With a 40-year legacy in manufacturing high-quality, real and compound chocolate, Foley’s has consistently been recognized for its quality portfolio and world-class service. Today’s acquisition further enhances the company’s capabilities, leveraging its expertise to introduce an expanded range of products that meet the diverse needs of consumers. Additionally, the move will allow customers to utilize a wealth of professional talent, driving innovation and excellence across all aspects of the business and the industry.
Streamlining best practices
Customers can rely on the two companies’ shared commitment to sustainability, and Puratos’s aim to reduce its environmental footprint and contribute positively to the communities it serves. The newly-formed entity will implement a comprehensive sustainability program, ensuring responsible sourcing of ingredients, minimizing waste and supporting initiatives that promote a healthier planet.
A mutually beneficial future awaits
Overall, the acquisition of Foley’s aims to utilize the synergies between Puratos and Foley’s to unlock further growth and value for customers of both companies. From added-value ingredients to market-leading insights and technical expertise for bakers, pâtissiers and chocolatiers, Puratos Canada will continue to stand for bold innovation, reliable quality and planet-friendly solutions.