Guan Chong: Carlyle Cocoa to boost mart

KUALA LUMPUR: Guan Chong Bhd plans to strengthen its foothold in the US cocoa sector with the acquisition of Carlyle Cocoa Co LLC, which owns a manufacturing facility in Delaware, the United States. On December 26 2012, Guan Chong's wholly-owned subsidiary, GCB America, signed a membership interest purchase agreement with Michael J. Kostic to acquire the remaining 51 per cent stake in Carlyle Cocoa for US$3.6 million (RM10.9 million). Upon the completion of the transaction, Carlyle Cocoa will become a wholly-owned subsidiary of Guan Chong.