CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that it has
completed the sale of its global cocoa business to Olam International
Limited (SGX: O32).
“I am tremendously proud of the work our entire global team is doing as
we continue our journey to improve returns,” said CEO Juan Luciano. “We
are delivering on a clear, aggressive plan to create value through
strategic growth, an increased focus on operational efficiencies,
and—when necessary—the divestiture of businesses that we believe are
unable to meet, in the long run, our returns objectives. With each new
acquisition, divestiture and strategic investment, we are advancing our
plan and making our company stronger and our future brighter.”
The sale is valued at about $1.2 billion, subject to finalization of the
post-closing adjustments. About 1,500 colleagues transferred to Olam
with the business.
“Our cocoa team has done a great job preparing for this smooth
transition, and we certainly wish them all the very 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,
industrial and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Media Relations
Jackie Anderson, 312-634-8484
media@adm.com