Cargill has agreed to purchase ADM’s chocolate business which includes three factories in North America and three in Europe for $440 million. Global chocolate retail sales are expected to climb to a record 7.3 million tons this year as demand for candy surges in Asian markets and recovery continues in North America and Europe after the 2008 economic crisis. The deal, which is scheduled to close in the first half of 2015 will bring Cargill global chocolate operations to a total of 24 chocolate and cocoa facilities which will lend Cargill added scale as it competes with the world’s top cocoa and chocolate player, Barry Callebaut AG. Barry Callebaut was formed through the merging of two chocolate operations in Belgium and France in 1986 and has since grown to acquire more than 12 additional candy-related businesses and produce 1.2 million tons of chocolate by 2012. Cargill produced approximately 300,000 tons, and ADM, 200,000 tons.
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