Cargill has now completed the acquisition of ADM’s global chocolate business for an enterprise value of US$440 million.
The acquisition constitutes a milestone for Cargill’s chocolate growth strategy, strengthening its position in the cocoa and chocolate industry.
The combined business provides Cargill with enhanced capabilities and product ranges to deliver a broad portfolio of products that support the long-term needs of customers.
The company’s cocoa and chocolate business now operates globally with 27 sites in 11 countries with more than 3,000 employees and serves customer needs with high quality cocoa and chocolate products, tailor-made for confectionery, bakery, dairy, and other applications.
Addressing the European Commission’s conditional clearance, Cargill has agreed to divest ADM’s industrial chocolate production facility in Mannheim, Germany.
The facility is kept as a separate entity with its own interim management until transferred to a prospective buyer.
Chocolate production onsite and service to customers continues normally.
“Along with our access to the global cocoa supply chain and an enhanced technology base, we will be able to improve the delivery of new applications to our customers,” says Jos de Loor, president of Cargill’s cocoa and chocolate business EMEA and Asia.
“We are seriously committed to help our customers grow and are excited to begin our new journey.”