Wild Cocoa Markets Push Europe's Historic Chocolatiers to the Brink [Yahoo! Finance Canada]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The store's current owners, the Dolfi family, took it over in 2000 and now sell more than 150 varieties, from nougat to pralines to marzipan, from 16 outlets across the French capital. “This is 100% a family business,” said Steve Dolfi, one of the four siblings who run the chocolatier. “We produce 100% of everything we're selling.” But the Dolfis have watched as many of their peers have gone out of business. Government records show that at least a dozen family-owned chocolatiers have closed down across Europe over the past year — casualties of a fourth straight season of tight cocoa supplies, which have driven up prices and squeezed margins across the industry. Larger companies, such as Nestle SA, Lindt & Spruengli AG and Hershey Co., have all taken hits to their share prices, but their scale has enabled them to ride out the disruptions to the market. Smaller artisanal companies have been faced with difficult calculations around what they can charge their
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