News in brief

ADM to divest chocolate business in Q3

ADM primes for chocolate plant sales

Archer Daniels Midland (ADM) has confirmed that it will sell its chocolate operations in the next quarter, but the buyer or buyers are still unknown.

Juan Ricardo Luciano, president and chief operating officer of ADM said in yesterday’s earnings call: “We expect to have signed agreement by the end of the third quarter to sell our global chocolate business.”

The company has chocolate manufacturing operations in Hazleton, Pa.; Milwaukee, Wis.; Georgetown, Ontario; Liverpool, U.K.; Manage, Belgium; and Mannheim, Germany.

Earlier this year ADM backed out of plans to sell its joint chocolate and cocoa business ADM Cocoa. In April, it said that it intended retain the majority of its cocoa processing operations, but would sell its chocolate business.

ADM Cocoa has an annually grinding capacity of around 600,000 metric tons (MT) and accounts for 15% of global cocoa processing – third behind Barry Callebaut and Cargill.

Related News

Cargill adds 700 new employees after snapping up ADM's chocolate business

Cargill to acquire ADM’s chocolate business for $440m

Commission concerned $440m ADM chocolate deal could lead to price hikes

Commission allows more time to assess Cargill’s ADM chocolate buy

Related Products

See more related products

Submit a comment

Your comment has been saved

Post a comment

Please note that any information that you supply is protected by our Privacy and Cookie Policy. Access to all documents and request for further information are available to all users at no costs, In order to provide you with this free service, William Reed Business Media SAS does share your information with companies that have content on this site. When you access a document or request further information from this site, your information maybe shared with the owners of that document or information.