Cargill, Minneapolis, has completed the acquisition of ADM’s global chocolate business for an enterprise value of $440 million. The acquisition underlines Cargill’s 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. Cargill’s cocoa and chocolate business now operates globally with 27 sites in 11 countries and with more than 3,000 employees. In addition, it serves customer needs worldwide with cocoa and chocolate products for confectionery, bakery, dairy and other applications.
Addressing the European Commission’s conditional clearance, Cargill has agreed to divest ADM's industrial chocolate production facility in Mannheim, Germany. The facility will continue as a separate entity with its own interim management until transferred to a prospective buyer. Chocolate production onsite 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,” says Jos de Loor, president of Cargill's cocoa and chocolate business EMEA (Europe, the Middle East and Africa) and Asia. “We are seriously committed to help our customers grow and are excited to begin our new journey."
“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," comments Bryan Wurscher, president Cargill Cocoa and Chocolate North America. “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.”