2024-04-26 10:25:00 ET
Summary
- Switzerland-based Barry Callebaut is the biggest chocolate company Americans have never heard of.
- By far the most important factor weighing on shares today is daily updates in the financial and mainstream press on cocoa prices.
- We don’t know the timing or trigger, but ultimately cocoa prices should revert and collapse.
- Should this coincide with BC’s efficiency efforts already underway, it could provide a strong tailwind to free cash flow for years to come.
The following segment was excerpted from this fund letter .
Barry Callebaut ( OTCPK:BYCBF )
Upslope is long Barry Callebaut and Hershey ( HSY ).
Switzerland-based Barry Callebaut ('BC') is the biggest chocolate company Americans have never heard of. It is the largest global outsourced processor and manufacturer of cocoa and chocolate products – serving “the entire food industry,” including premium chocolatiers, bakeries, pastry chefs, and restaurants. The company is vertically integrated, with expertise in cocoa bean sourcing and processing, as well as chocolate manufacturing....
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Upslope Capital - Barry Callebaut: The Biggest Chocolate Company Americans Have Never Heard Of