Blog: Brussels clears Cargill's ADM chocolate buy - with a condition
Dean Best | 20 July 2015
Cargill's move to buy Archer Daniels Midland's chocolate business has cleared its last regulatory hurdle after clearance from the European Commission. But Brussels has asked Cargill to offload part of the assets.
The companies announced a US$440m deal last September. In February, the Commission said it would launch an in-depth investigation in the deal after an initial look showed "potential" competition concerns in the supply of industrial chocolate in the UK and Germany.
Cargill and ADM were two of the three largest business-to-business chocolate suppliers in these markets, alongside Switzerland's Barry Callebaut
To address the Commission's concerns over the impact the deal could have on competition, Cargill has agreed to offload ADM's industrial chocolate production facility in Mannheim, Germany.
Cargill said the facility will be kept as a separate entity with its own interim management until an agreement with a prospective buyer has been made.
The company will keep two chocolate, compound and liquor production sites in the US, one in Canada, and two chocolate and compound production sites in Europe, one in the UK and the other in Belgium.
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