SUBSCRIBE

Breaking News on Confectionery & Biscuit Processing

News > Ingredients

Read more breaking news

 

 
News in brief

ADM to divest chocolate business in Q3

By Oliver Nieburg+

06-Aug-2014

ADM primes for chocolate plant sales
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 products

Key Industry Events

 

Access all events listing

Our events, Events from partners...

On demand Supplier Webinars

Your future starts at Cargill's T for Trends
Cargill Cocoa & Chocolate
All supplier webinars