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summary：The European Commission granted Cargill conditional clearance to purchase the European chocolate business of Archer Daniel Midlands Co., completing the deal’s regulatory approval process....
The European Commission granted Cargill conditional clearance to purchase the European chocolate business of Archer Daniel Midlands Co., completing the deal’s regulatory approval process. The deal was previously cleared by the U.S. Dept. of Justice.“The acquisition underlines Cargill’s commitment to meeting customer needs and constitutes a milestone for our chocolate growth strategy,” the company wrote in a release. “It is strengthening our position as a leading player in the cocoa and chocolate industry. The new organization will deepen our service to chocolate customers and expand our footprint and production capability significantly.”
The acquisition will transfer three chocolate, compound, and liquor production sites in North America and three chocolate and compound production sites in Europe, though Cargill has agreed to divest ADM’s industrial chocolate production facility in Mannheim, Germany. Cargill will also add ADM’s 650 employees to its team and will acquire the Ambrosia, Merckens, and Schokinag brands.