JOHOR BHARU: The world’s fourth-largest cocoa grinder, Guan Chong Bhd (GCB) had recently signed a MoU through its subsidiary GCB Cocoa Singapore Pte Ltd (GCBCS), with Conseil Du Café-Cacao (CCC), the Coffee-Cocoa Council of Ivory Coast, and Transcao Negoce to explore the potential acquisition of a 25% minority stake in Transcao Côte d’Ivoire (Transcao CI).
Transcao CI operates in Ivory Coast and is principally involved in cocoa processing, manufacturing and distributing finished products, creating added value to boost farmers’ income, and promoting local and regional consumption.
The strategic initiative is driven by GCB’s commitments to expanding its presence in the Ivory Coast and deepening its relationship with CCC to promote sustainable cocoa farming practices.
The MoU will be exclusive for a period of three months from the date of execution and GCBCS shall benefit from exclusive negotiation rights with CCC and Transcao Negoce. GCB would look to acquiring a 25% stake in Transcao CI and act as a strategic partner to support Transcao CI’s development and implementation strategy.
GCB managing director and CEO Brandon Tay Hoe Lian said: “The partnership between GCB and CCC will further cement GCB’s standing as the world’s fourth-largest grinder in the chocolate supply chain, allowing us to build on each other’s strength to export Ivory Coast cocoa ingredients to customers worldwide. The group’s vision is to become a preferred supplier of cocoa and chocolate ingredients.”
Together, he added they look forward to exploring ways to build a stronger and more sustainable future for the cocoa industry and the communities the industry supports.
Transcao CI is a private limited company incorporated in Ivory Coast, with the majority of its shareholding held by the CCC, a government regulator responsible for the regulation and development of Ivory Coast’s cocoa and coffee sectors. CCC oversees Ivory Coast’s annual cocoa bean production of approximately 2 million metric tonnes, which accounts for around 40% of the global supply.
Transcao Negoce is a private limited company holding a minority shareholding in Transcao CI, and a subsidiary of CCC.
