Cargill completes acquisition of ADM chocolate business
Cargill has completed its acquisition of Archer Daniels Midland's (ADM) global chocolate business valued at $440 million.
Cargill's cocoa and chocolate business operates 27 sites in 11 countries with more than 3,000 employees.
"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's cocoa and chocolate business EMEA and Asia.
Under the transaction, ADM will transfer three chocolate, compound and liquor production sites in North America—Milwaukee (Wis.), Hazleton (Penn.) and Georgetown (Ontario)—three chocolate and compound production sites in Europe—Liverpool (U.K.), Manage (Belgium) and Mannheim (Germany)—and more than 650 employees to Cargill. The Ambrosia, Merckens and Schokinag brands will join Cargill's existing portfolio of chocolate brands.
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.