ADM Completes Sale of Global Chocolate Business
August 03 2015 - 6:00AM
Business Wire
Archer Daniels Midland Company (NYSE: ADM) today announced that
it has completed the sale of its global chocolate business to
Cargill.
“We are continuing to create shareholder value, whether through
profitable growth—such as the recent expansion of our port network
and the addition to our corn footprint in Europe—or by divesting
businesses for which we don’t see a long-term path toward achieving
acceptable returns,” said CEO Juan Luciano. “I am proud of the team
that identified and delivered on this sale and others like
it—including the proposed sale of our cocoa business—which are
helping to ensure that we continue to drive results for our
shareholders and our company.”
The sale is valued at about $440 million, subject to
post-closing adjustments. About 670 colleagues transferred to
Cargill with the business.
“I would like to thank the chocolate team for their dedication,
and we of course wish them the best,” Luciano continued.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
the vital needs of a growing world. Today, we’re one of the world’s
largest agricultural processors and food ingredient providers, with
more than 33,000 employees serving customers in more than 140
countries. With a global value chain that includes more than 460
crop procurement locations, 300 ingredient manufacturing
facilities, 40 innovation centers and the world’s premier crop
transportation network, we connect the harvest to the home, making
products for food, animal feed, chemical and energy uses. Learn
more at www.adm.com.
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Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 312-634-8484media@adm.com
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