Cargill has agreed to purchase Archer Daniels Midland Company’s global chocolate business for US$440 million.
“This acquisition is a major milestone in Cargill’s chocolate growth strategy and will help us better serve our customers
in North America and Europe,” said Bryan Wurscher, president Cargill Cocoa and Chocolate North America.
“It will bring together great people with a deep passion and commitment to producing excellent chocolate. Our customers
will benefit from a broader product portfolio, greater access to innovation and product development support.”
The transaction includes ADM’s three North American chocolate plants in the US and three in UK, Belgium and Germany.
These new facilities will extend and complement Cargill’s existing chocolate footprint across North America, Europe, Asia
and Brazil, and increase production capacity, particularly in North America.
Cargill’s product portfolio will also add ADM’s Ambrosia, Merckens and Schokinag brands.
Upon completion Cargill will gain approximately 700 new employees.
The combined business will be able to offer enhanced capabilities and broader product ranges to support the long-term needs
of the chocolate market.
There will also be real benefit to customers’ final products through access to Cargill’s extensive application capability
and deep understanding and experience of texturizers, oils, fats and sweeteners.
“Cocoa and chocolate products have been key contributors to Cargill’s business since 1979,” said Jos de Loor, president
Cargill Cocoa & Chocolate EMEA and Asia.
“We continue to invest strongly in the development of our own facilities and people, and we welcome the opportunity to
embrace these new operations and further build on our success together.”
The transaction is subject to regulatory approval in the US and the European Union.
It is expected to close in the first half of 2015.
