Sept. 2, 2014, Minneapolis – Cargill has agreed to purchase Archer Daniels Midland Company's global chocolate business for $440 million.
Sept. 2, 2014, Minneapolis – Cargill has agreed to purchase Archer Daniels Midland Company's global chocolate business for $440 million.
"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, in a news release. "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). These new facilities will extend and complement Cargill's existing chocolate footprint across North America, Europe, Asia and Brazil, and increase production capacity, particularly in North America.
Cargill's product portfolio will also add ADM's Ambrosia, Merckens and Schokinag brands. Upon completion Cargill will gain approximately 700 new employees.
"Cocoa and chocolate products have been key contributors to Cargill's business since 1979," said Jos de Loor, president, Cargill Cocoa & Chocolate EMEA and Asia, in the release.
"We continue to invest strongly in the development of our own
facilities and people, and we welcome the opportunity to embrace these
new operations and further build on our success together."
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