CHICAGO--(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.
Archer Daniels Midland Company
Media Relations
Jackie Anderson, 312-634-8484
media@adm.com