ADM completes sale of global chocolate business to Cargill

Archer Daniels Midland Co. (ADM), Chicago, and Minneapolis-based Cargill Inc. announced that ADM completed the sale of its global chocolate business to Cargill. The sale is valued at about $440 million, subject to post-closing adjustments. Approximately 670 colleagues transferred to Cargill with the business, ADM said.

Cargill said the acquisition underlines its commitment to meeting customer needs and constitutes a milestone for its chocolate growth strategy, strengthening its position as a leading player 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 existing and new customers. Cargill's cocoa and chocolate business now operates globally, with 27 sites in 11 countries and more than 3,000 employees, and serves customer needs worldwide with "innovative and high-quality cocoa and chocolate products tailor-made for confectionery, bakery, dairy and other applications."

Addressing the European Commission's conditional clearance, Cargill said it 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 on-site 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. We are seriously committed to help our customers grow and are excited to begin our new journey," said Jos de Loor, president of Cargill's cocoa and chocolate business, EMEA and Asia.