Billionaires

Swiss Chocolate Dynasty Doubles Down On Private Equity

Barry Callebaut AG ruby natural chocolate discs are displayed at the Sweets & Snacks Expo in Chicago, Illinois.
Photographer: Taylor Glascock/Bloomberg

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By Dinesh Nair, Paula Doenecke, and Benjamin Stupples

June 16, 2025 at 3:01 PM UTC

Updated on

June 17, 2025 at 9:43 AM UTC

The dynasty which has amassed one of the biggest fortunes among Swiss chocolate makers is combining two of its investment firms to boost private-equity style investments.

A namesake fund for the heirs of Barry Callebaut AG founder Klaus Johann Jacobs is combining with another of the family’s investment vehicles, Telemos Capital, and forming a new entity, according to a statement on Tuesday.