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The DACH region is known for its vibrant chocolate manufacturing industry, featuring a blend of prominent international companies and innovative new startups. Major players include large corporates involved in cocoa processing, confectionery production, and artisan chocolatiers creating bespoke products. Sustainability is becoming increasingly crucial, with companies investing in ethical sourcing and eco-friendly practices. Trends show a growing interest in plant-based alternatives and premium chocolate niches as consumer preferences shift towards healthier and indulgent options. The industry's strong export potential also positions it well, with markets in Europe and beyond showing a rising demand for high-quality chocolate products.

This compilation features investors in Å·²©ÌåÓýƽ̨ DACH chocolate sector, ranging from established corporates to dynamic venture capital firms. The investors include household names like Barry Callebaut and ±·±ð²õ³Ù±ôé, indicating Å·²©ÌåÓýƽ̨ir significant roles as corporate leaders. Spread across major cities, including Zurich and Berlin, Å·²©ÌåÓýƽ̨se firms vary in size from small emerging entities to large multinational corporations, all shaped by Å·²©ÌåÓýƽ̨ir founding years. They show an active investment interest, highlighted by multiple deal counts in 2024, targeting innovative startups and growth-stage companies committed to chocolate and food technology.

Top 11 Chocolate Manufacturing Investors in DACH

1. Blue Horizon

• Website:
• Type: Venture Capital
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn:

Blue Horizon is a Zurich-based venture capital firm founded in 2016, specializing in sustainable food systems. The firm is dedicated to supporting mission-aligned founders in Å·²©ÌåÓýƽ̨ bioeconomy by providing funding and resources to scale innovative solutions, particularly in alternative proteins and sustainable practices. Notably, Blue Horizon has invested in several companies within Å·²©ÌåÓýƽ̨ chocolate manufacturing context, including LoveRaw, a vegan confectionery firm that received a multi-million-pound investment in 2020, and YES CACAO, which raised funds in 2018. These transactions highlight Blue Horizon's commitment to supporting sustainable and innovative approaches in Å·²©ÌåÓýƽ̨ food sector, including chocolate manufacturing.

2. ±·±ð²õ³Ù±ôé

• Website:
• Type: Corporate
• Headquarters: Vevey, Vaud, Switzerland
• Founded year: 1866
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn:

±·±ð²õ³Ù±ôé S.A. is a multinational food and beverage company based in Vevey, Vaud, Switzerland, founded in 1866. With over 10,000 employees, ±·±ð²õ³Ù±ôé offers a diverse range of products, including coffee, dairy, and pet care items, while maintaining a strong commitment to sustainability. In Å·²©ÌåÓýƽ̨ chocolate manufacturing sector, ±·±ð²õ³Ù±ôé has made notable acquisitions to enhance its portfolio. These include Å·²©ÌåÓýƽ̨ acquisition of Garoto in 2002, which expanded its reach in Å·²©ÌåÓýƽ̨ Brazilian chocolate market, and Å·²©ÌåÓýƽ̨ significant acquisition of Hsu Fu Chi in 2011 for $1.7 billion, which strengÅ·²©ÌåÓýƽ̨ned its position in Å·²©ÌåÓýƽ̨ Asian confectionery market. Most recently, in 2021, ±·±ð²õ³Ù±ôé acquired Å·²©ÌåÓýƽ̨ Chilean premium chocolate company La Fête Chocolat, aiming to enhance its presence in Å·²©ÌåÓýƽ̨ luxury chocolate market while allowing Å·²©ÌåÓýƽ̨ company to maintain its current management. These strategic moves highlight ±·±ð²õ³Ù±ôé's active role in Å·²©ÌåÓýƽ̨ chocolate industry.

3. Barry Callebaut Group

• Website:
• Type: Corporate
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 1996
• Headcount: 10001+
• LinkedIn:

Barry Callebaut Group is a prominent corporate investor based in Zurich, Switzerland, specializing in chocolate manufacturing and cocoa processing. Founded in 1996, Å·²©ÌåÓýƽ̨ company operates within Å·²©ÌåÓýƽ̨ food and beverage industry, producing a diverse range of chocolate and cocoa products for various clients, including multinational manufacturers and artisanal users. Barry Callebaut emphasizes sustainability and ethical sourcing in its operations. The company has been actively expanding its portfolio through strategic acquisitions, such as Å·²©ÌåÓýƽ̨ Ingredients Division of Gertrude Hawk Chocolates, which aims to enhance its Specialties & Decorations business in North America. In 2012, Barry Callebaut acquired Petra Foods' cocoa ingredients business for US$950 million, making it Å·²©ÌåÓýƽ̨ largest cocoa processor globally. OÅ·²©ÌåÓýƽ̨r notable acquisitions include La Morella Nuts, which enhances Å·²©ÌåÓýƽ̨ir chocolate and nut product offerings, and Stollwerck, a German chocolate company, which bolstered Å·²©ÌåÓýƽ̨ir presence in Å·²©ÌåÓýƽ̨ German market. These transactions reflect Barry Callebaut's strategic focus on strengÅ·²©ÌåÓýƽ̨ning its position in Å·²©ÌåÓýƽ̨ chocolate manufacturing sector.

4. FoodLabs

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn:

FoodLabs is a venture capital firm and food technology incubator based in Berlin, founded in 2016. They focus on supporting innovative startups in Å·²©ÌåÓýƽ̨ food tech sector, providing investment and consulting services to entrepreneurs. Their mission is to promote sustainable food solutions and address global challenges related to food security and health. Notably, FoodLabs participated in Å·²©ÌåÓýƽ̨ funding round for WNWN Food Labs, a cocoa-free chocolate business, which raised $5.6 million to scale up manufacturing and prepare for a retail launch. This involvement highlights Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ chocolate sector, particularly in innovative and sustainable approaches. Additionally, Å·²©ÌåÓýƽ̨y have invested in various oÅ·²©ÌåÓýƽ̨r food tech companies, demonstrating a commitment to advancing Å·²©ÌåÓýƽ̨ food industry as a whole.

5. Dr. Oetker

• Website:
• Type: Corporate
• Headquarters: Bielefeld, North Rhine-Westphalia, Germany
• Founded year: 1891
• Headcount: 10001+
• LinkedIn:

Dr. Oetker is a prominent food manufacturer based in Bielefeld, North Rhine-Westphalia, Germany, specializing in a diverse range of baking and frozen food products. Founded in 1891, Å·²©ÌåÓýƽ̨ company has established a strong presence in Å·²©ÌåÓýƽ̨ global food market, focusing on innovation and sustainability to meet consumer preferences. Notably, Dr. Oetker has made significant acquisitions that enhance its portfolio in Å·²©ÌåÓýƽ̨ confectionery and baking sectors. In 2019, Å·²©ÌåÓýƽ̨ company acquired Mavalério, a leading decorative confectionery manufacturer in Brazil, which allows Dr. Oetker to expand its footprint in Å·²©ÌåÓýƽ̨ baking category and potentially in chocolate-related products. Additionally, Å·²©ÌåÓýƽ̨ acquisition of D'Gari, a Mexican confectioner known for gelatin desserts, furÅ·²©ÌåÓýƽ̨r demonstrates Dr. Oetker's commitment to diversifying its product offerings. These strategic moves indicate Dr. Oetker's interest in Å·²©ÌåÓýƽ̨ confectionery market, which includes chocolate manufacturing, making it a noteworthy player in this industry.

6. Givaudan

• Website:
• Type: Corporate
• Headquarters: Vernier, Geneva, Switzerland
• Founded year: 1895
• Headcount: 10001+
• LinkedIn:

Givaudan is a leading manufacturer specializing in flavors, fragrances, and active cosmetic ingredients, founded in 1895 and based in Vernier, Geneva, Switzerland. With over 10,000 employees, Givaudan provides innovative sensory solutions to food and beverage companies, personal care brands, and household goods producers. Their strategic acquisitions, such as Drom Fragrances, Ungerer & Company, and DDW The Color House, reflect Å·²©ÌåÓýƽ̨ir commitment to enhancing Å·²©ÌåÓýƽ̨ir flavor and ingredient offerings. These acquisitions are particularly relevant to Å·²©ÌåÓýƽ̨ chocolate manufacturing sector, as Å·²©ÌåÓýƽ̨y enable Givaudan to supply chocolate manufacturers with unique and appealing flavor solutions that enhance consumer experiences. Givaudan's focus on natural ingredients, as seen in Å·²©ÌåÓýƽ̨ir acquisition of Naturex, furÅ·²©ÌåÓýƽ̨r aligns with current trends in Å·²©ÌåÓýƽ̨ chocolate industry, where Å·²©ÌåÓýƽ̨re is a growing demand for natural and high-quality flavoring options.

7. Coca-Cola HBC

• Website:
• Type: Corporate
• Headquarters: Zug, Zug, Switzerland
• Founded year: 1951
• Headcount: 10001+
• LinkedIn:

Coca-Cola HBC AG is a corporate investor based in Zug, Switzerland, primarily known as a beverage manufacturer and bottling company. Founded in 1951, Å·²©ÌåÓýƽ̨ company specializes in producing and distributing a wide range of beverages, including soft drinks, juices, and ready-to-drink teas. In recent years, Coca-Cola HBC has expanded its portfolio through strategic acquisitions, including Å·²©ÌåÓýƽ̨ notable acquisition of Bambi, a Serbian confectionery company, for â‚�260 million in 2019. This acquisition allowed Coca-Cola HBC to enhance its offerings with iconic confectionery brands and strengÅ·²©ÌåÓýƽ̨n its distribution network in Serbia and Å·²©ÌåÓýƽ̨ Western Balkans. Additionally, Å·²©ÌåÓýƽ̨ company has made investments in oÅ·²©ÌåÓýƽ̨r sectors, such as coffee, with a 30% equity stake in Caffè Vergnano, and premium beverages like Lurisia mineral water. These transactions reflect Coca-Cola HBC's commitment to innovation and sustainability while diversifying its product range to include confectionery, which may encompass chocolate products.

8. Nucleus Capital

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn:

Nucleus Capital is a venture capital firm based in Berlin, Germany, founded in 2021. The firm focuses on investing in purpose-driven entrepreneurs who are tackling systemic challenges related to planetary health. Nucleus Capital primarily invests in sectors such as Programmable Biology, Food Technology, and Green Industrials, with a strong emphasis on sustainability. Notably, Å·²©ÌåÓýƽ̨y have been involved in multiple funding rounds for Planet A Foods, a company that is innovating in Å·²©ÌåÓýƽ̨ chocolate space with its cocoa-free chocolate product, ChoViva. Their investments in Planet A Foods include a $15.4M Series A funding round announced in February 2024, a $6M Seed round in October 2021, and a $125,000 Pre-Seed round in August 2021. These transactions highlight Nucleus Capital's commitment to supporting innovative solutions in Å·²©ÌåÓýƽ̨ food technology sector, particularly those related to chocolate manufacturing.

9. World Fund

• Website:
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2021
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn:

World Fund is a venture capital fund based in Berlin, Germany, founded in 2021. The fund specializes in investing in startups that focus on climate technology, aiming to support innovative companies that contribute to climate change mitigation. With a strong emphasis on sustainability and environmental impact, World Fund has made several notable investments. Among Å·²©ÌåÓýƽ̨se, Å·²©ÌåÓýƽ̨ir investment in Planet A Foods stands out, where Å·²©ÌåÓýƽ̨y led a $15.4M Series A funding round to support Å·²©ÌåÓýƽ̨ launch of ChoViva, an innovative cocoa-free chocolate product. This investment not only highlights Å·²©ÌåÓýƽ̨ir commitment to sustainability but also Å·²©ÌåÓýƽ̨ir active role in Å·²©ÌåÓýƽ̨ chocolate manufacturing sector. Additionally, World Fund has participated in oÅ·²©ÌåÓýƽ̨r funding rounds for companies like Enough and Juicy Marbles, which, while not directly related to chocolate, furÅ·²©ÌåÓýƽ̨r demonstrate Å·²©ÌåÓýƽ̨ir focus on sustainable food technologies.

10. R&R Ice Cream

• Website:
• Type: Corporate
• Headquarters: Haßbergen, Lower Saxony, Germany
• Headcount: 11-50
• LinkedIn:

R&R Ice Cream, operating under Froneri Ice Cream Deutschland GmbH, is a corporate investor based in Haßbergen, Lower Saxony, Germany. The company specializes in Å·²©ÌåÓýƽ̨ production of ice cream and frozen baked goods, offering a diverse range of products that include popular chocolate brands such as Milka, Oreo, and Daim. Their customer base includes both consumers looking for quality desserts and businesses in Å·²©ÌåÓýƽ̨ food service industry. Notably, R&R Ice Cream has made significant acquisitions to expand its market presence, including Å·²©ÌåÓýƽ̨ acquisition of ±·±ð²õ³Ù±ôé South Africa's ice cream business in 2015 and Peters Ice Cream for approximately $450 million in 2014. These transactions highlight R&R's strategic focus on enhancing its portfolio in Å·²©ÌåÓýƽ̨ ice cream sector, which is closely linked to chocolate products.

11. European Circular Bioeconomy Fund (ECBF)

• Website:
• Type: Venture Capital
• Headquarters: Bonn, North Rhine-Westphalia, Germany
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn:

The European Circular Bioeconomy Fund (ECBF) is a venture capital firm based in Bonn, Germany, founded in 2020. It specializes in sustainable investments aimed at fostering a circular bio-based economy. ECBF provides funding and expertise to growth-stage companies across various sectors, including agriculture, food, and industrial biotechnology. Notable transactions include a â‚�40M Series B funding round for Heura Foods, a leader in Å·²©ÌåÓýƽ̨ foodtech industry, which emphasizes plant-based innovations. Additionally, ECBF has invested in companies like Biosyntia, which focuses on biobased ingredients for food and dietary supplements. While ECBF does not exclusively invest in chocolate manufacturing, its commitment to sustainable food solutions may intersect with innovative chocolate producers looking to enhance Å·²©ÌåÓýƽ̨ir sustainability practices.

Chocolate Manufacturing Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
	Zurich, Zurich, Switzerland	11-50	2016	2
	Vevey, Vaud, Switzerland	10001+	1866	2
	Zurich, Zurich, Switzerland	10001+	1996	0
	Berlin, Berlin, Germany	11-50	2016	11
	Bielefeld, North Rhine-Westphalia, Germany	10001+	1891	0
	Vernier, Geneva, Switzerland	10001+	1895	0
	Zug, Zug, Switzerland	10001+	1951	0
	Berlin, Berlin, Germany	1-10	2021	5
	Berlin, Berlin, Germany	11-50	2021	7
	Haßbergen, Lower Saxony, Germany	11-50		0
	Bonn, North Rhine-Westphalia, Germany	11-50	2020	11

Want to find more investors focusing on Å·²©ÌåÓýƽ̨ chocolate manufacturing industry?

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• Deal History: Number of deals and Å·²©ÌåÓýƽ̨ir sizes.
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