Barry Callebaut has signed a long-term global partnership agreement with consumer packaged goods and ice cream company Unilever. Under the terms of the agreement, Barry Callebaut will become Unilever’s strategic global supplier and “innovation partner,” according to a press release.

This agreement builds on the companies’ existing relationship and will nearly double Barry Callebaut’s current volumes with Unilever. Ultimately Barry Callebaut will provide 70 percent of Unilever’s global cocoa and chocolate products. This will be achieved under a joint business development plan involving cooperation across innovation, sustainable sourcing, capacity expansion and value improvement.

As a result of the agreement, Barry Callebaut will invest about $24 million in its worldwide factory network in order to prepare the capacity required to fulfill the long-term partnership agreement. The additional volumes have a ramp-up period of 12 months, starting immediately.

Barry Callebaut has already been an active partner in developing Unilever’s Magnum ice cream brand, including supporting its launch across various regions in the past year. Barry Callebaut has also been working closely with Unilever to meet its sustainable cocoa sourcing commitments.