SGX-listed Petra Foods completes sale of cocoa ingredients business

Singapore-Exchange listed Petra Foods which markets and distributes chocolate products has completed the sale of its cocoa ingredients business.

It sold this division to Zurich-based Barry Callebaut to focus on the high-growth branded consumer business.

In Petra Foods' key markets of Indonesia and Philippines, more than half the population is below the age of 50 and there is a growing middle income class.

Petra Foods' brands include Delfi, SilverQueen and Ceres.