Cargill has acquired ADM’s global chocolate business for $440 million.
The company states that this acquisition underlines its commitment to meeting customer needs and is a milestone for its chocolate growth strategy.
"Bringing together the talents and expertise of our two organizations will enable us to have a broader market reach and an even better product and service capability," said Bryan Wurscher, President of Cargill Cocoa and Chocolate North America.
He continued, "By understanding and responding to customers' needs we will be able to offer them distinctive value, which in turn will help create growth opportunities for our customers and for our business, as we increase the scale and focus of our operations."
This acquisition gives Cargill enhanced capabilities and product ranges to offer a wide range of products that support the long-term needs of its existing and new customers.
The company’s cocoa and chocolate business now operates globally with 27 sites in 11 countries and a workforce of more than 3,000 employees, according to a press release.
"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," says Jos de Loor, President of Cargill Cocoa & Chocolate Europe, Middle East, Africa, and Asia.
To received clearance from the European Commission, Cargill agreed to divest ADM’s industrial chocolate production facility in Mannheim, Germany. The facility has been kept as a separate entity with its own interim management until it can be sold.