Cargill completes acquisition of ADM's global chocolate business, deepening service offering to its customers
Minneapolis - August 3, 2015 - Cargill has now completed the acquisition of ADM's global chocolate business for an enterprise value of $440m. 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 to deliver a broad portfolio of products that support the long-term needs of existing and new customers. Cargill's cocoa and chocolate business now operates globally with 27 sites in 11 countries with over 3.000 employees and serves customer needs worldwide with a distinctive range of innovative and high quality cocoa and chocolate products, tailor-made 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 is kept 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. We are seriously committed to help our customers grow and are excited to begin our new journey," says Jos de Loor, president of Cargill's cocoa and chocolate business EMEA and Asia.
"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 & 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."
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Notes for the editors:
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and nearly 150 years of experience. We have 142,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and our News Center.
About Cargill in Indonesia
Cargill began doing business in Indonesia in 1974 by establishing a feed mill in Bogor, West Java. Today, Cargill is headquartered in Jakarta and has over 11,000 employees. We have 26 locations with offices, manufacturing plants and facilities throughout the country. Business activities comprise animal nutrition, cocoa, grain and oilseeds, palm oil, copra and sugar. Cargill is a responsible corporate citizen of Indonesia, and its local programs foster responsible and sustainable development, help protect the environment, and nourish the people and possibilities that reside in local communities. For more information, visit www.cargill.co.id
About Cargill Cocoa & Chocolate
Cargill Cocoa & Chocolate offers the food industry a wide range of both standard and customised cocoa and chocolate ingredients to be used in delicious bakery, confectionery, and dairy applications all over the world. Our product range includes high quality Gerkens® cocoa powders, chocolate including Wilbur®, Peter's® and Veliche®, coatings, fillings, cocoa liquors and cocoa butters. With years of experience in technical food expertise Cargill supports its customers in new recipes and new product development.
Our facilities in Belgium, Brazil, Canada, Côte d'Ivoire, France, Germany, Ghana, the Netherlands, UK and the USA are fully dedicated to produce in accordance with the highest food safety standards.
To secure a good quality and sustainable supply of cocoa beans we have our own cocoa bean sourcing operations for buying, handling and/or exporting of cocoa beans in Brazil, Cameroon, Côte d'Ivoire, Indonesia and Vietnam. Presence in all the leading producing countries allows Cargill to oversee the supply chain from beans at origin to cocoa and chocolate products on our customers' doorstep. In addition, extensive market research and analysis proves to be a source of valuable information to our customers.
For more information, please visit: North America www.cargillfoods.com/chocolate