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Cargill welcomes clearance from European Commission for purchase of ADM's chocolate business

AMSTERDAM, The Netherlands, July 17, 2015 - The European Commission has granted conditional clearance for Cargill to acquire Archer Daniels Midland's (NYSE: ADM) chocolate business in Europe. Together with the approvals granted earlier by the US Department of Justice, this completes the regulatory approval process for the global deal.

"The acquisition underlines Cargill's commitment to meeting our customers' needs and constitutes a milestone for our chocolate growth strategy, strengthening our position as a leading player in the cocoa and chocolate industry," says Bryan Wurscher, president Cargill Cocoa and Chocolate North America. "The new organisation will deepen our service to chocolate customers and expand our footprint and production capability significantly. Customers will benefit from a combined business with a broad range of high quality cocoa and chocolate products for confectionery, bakery, dairy, and other applications."

"We are looking forward to bringing together people with a deep passion, experience and commitment to producing excellent chocolate in our extended chocolate operations," says Jos de Loor, president of Cargill's cocoa and chocolate business EMEA and Asia. "Growing our business goes hand in hand with our commitment to securing the long-term viability of a strong and sustainable cocoa bean supply chain. With the Cargill Cocoa Promise, we are supporting progress towards a transparent cocoa supply chain, enabling farmers to achieve better livelihoods and delivering a sustainable supply of cocoa and chocolate products to meet the growing demands from customers."

After closing of the transaction, three chocolate, compound and liquor production sites in North America - Milwaukee (Wis.), Hazleton (Penn.) and Georgetown (Ontario) and three chocolate and compound production sites in Europe - Liverpool (U.K.), Manage (Belgium) and Mannheim (Germany) and more than 650 employees will transfer to Cargill. And the Ambrosia®, Merckens® and Schokinag® brands will join Cargill's existing portfolio of high quality chocolate brands.

Addressing the European Commission's competition concerns, Cargill has agreed to divest ADM's industrial chocolate production facility in Mannheim, Germany. The facility will be kept as a separate entity with its own interim management until an agreement with a prospective buyer has been made.



 

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Notes for the editors:
About Cargill

Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and nearly 150 years of experience. We have 142,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and our News Center.

About Cargill in Indonesia
Cargill began doing business in Indonesia in 1974 by establishing a feed mill in Bogor, West Java. Today, Cargill is headquartered in Jakarta and has over 11,000 employees. We have 26 locations with offices, manufacturing plants and facilities throughout the country. Business activities comprise animal nutrition, cocoa, grain and oilseeds, palm oil, copra and sugar. Cargill is a responsible corporate citizen of Indonesia, and its local programs foster responsible and sustainable development, help protect the environment, and nourish the people and possibilities that reside in local communities. For more information, visit www.cargill.co.id

About Cargill Cocoa & Chocolate
Cargill Cocoa & Chocolate offers the food industry a wide range of both standard and customised cocoa and chocolate ingredients to be used in delicious bakery, confectionery, and dairy applications all over the world. Our product range includes high quality Gerkens® cocoa powders, chocolate including Wilbur®, Peter's® and Veliche®, coatings, fillings, cocoa liquors and cocoa butters. With years of experience in technical food expertise Cargill supports its customers in new recipes and new product development.

Our facilities in Belgium, Brazil, Canada, Côte d'Ivoire, France, Germany, Ghana, the Netherlands, UK and the USA are fully dedicated to produce in accordance with the highest food safety standards.

To secure a good quality and sustainable supply of cocoa beans we have our own cocoa bean sourcing operations for buying, handling and/or exporting of cocoa beans in Brazil, Cameroon, Côte d'Ivoire, Indonesia and Vietnam. Presence in all the leading producing countries allows Cargill to oversee the supply chain from beans at origin to cocoa and chocolate products on our customers' doorstep. In addition, extensive market research and analysis proves to be a source of valuable information to our customers.

For more information, please visit: North America www.cargillfoods.com/chocolate