Cargill to buy ADM’s chocolate business

Cargill has agreed to purchase Archer Daniels Midland Company’s global chocolate business for USD 440 m. “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, located in Milwaukee (Wis.), Hazleton (Penn.), and Georgetown (Ontario), and three in Europe: Liverpool (U.K.), Manage (Belgium) and Mannheim (Germany). Cargill’s product portfolio will also add ADM’s Ambrosia®, Merckens® and Schokinag® brands. Upon completion Cargill will gain approximately 700 new employees. The transaction is subject to regulatory approval in the United States and the European Union. It is expected to close in the first half of 2015.

www.cargill.com