Cargill Inc. is in the final stages of a deal to buy Archer Daniels Midland Co.’s cocoa business,
Reuters reported.
The deal would join “two of the world’s top cocoa merchants and bean grinders,” the article said.
Sources have said the ADM unit could be worth as much as $2 billion, the article said. “Cargill beat out smaller rivals who were interested in picking up individual assets, but resisted buying the whole business,” the report noted.
Cargill already operates cocoa plants in West Africa, Brazil, Indonesia and in European countries, the article said. In 2011 it bought Kakao Verarbeitung Berlin, a German cocoa grinder, and in May it started building a $100 million cocoa processing facility in Indonesia. (Source: Reuters, Oct. 2, 2013.)
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