Blog: Dean BestCargill snaps up ADM's chocolate business

Dean Best | 2 September 2014

Five months after Cargill's rumoured interest to buy Archer Daniels Midland's cocoa and chocolate businesses came to nothing, the company today (2 September) announced a deal for part of the assets.

Cargill has agreed to pay US$440m for ADM's chocolate divisions, which includes two plants in the US and one each in Canada, the UK, Belgium and Germany.

"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," Bryan Wurscher, president of Cargill's cocoa and chocolate business in North America, said.

Cargill argued the deal will broaden the product range it offers to food manufacturers.

For its part, ADM said the sale would allow it to focus on "higher-return investments".

The deal follows ADM's announcement in April that it would keep the "majority" of its cocoa operations after "extensive negotiations" with an unnamed buyer over a deal for its cocoa and chocolate operations. The talks, believed to be with Cargill, fizzled out - but ADM said it was still looking to offload its chocolate business, the smaller of the two divisions.


just-food hits the UK's airwaves

The BBC turned to just-food today for insight on the price dispute between Tesco and Unilever....


Vintage Italia secures US$3m investment to support growth

Advantage Capital Agribusiness Partners (ACAP), along with Silas Capital and Emil Capital Partners, is investing US$3m Florida-based Vintage Italia, the maker of Pasta Chips snacks. ...


Ranjit Boparan buys another UK business out of administration

Just weeks after buying UK turkey processor Bernard Matthews from administration, food tycoon Ranjit Boparan has struck a similar deal....


Japan's Kewpie expands in Poland with Mosso takeover

Japan's Kewpie Corp. is acquiring Polish food maker Mosso Kwasniewscy as part of its overseas expansion efforts....


Tyson Foods investors left to chew over analyst claims

Shares in Tyson Foods slumped on Friday, closing down almost 9% after an analyst claimed a lawsuit facing the company could hit the US meat titan....

just-food homepage

Forgot your password?