Is ADM Shopping Its Cocoa Business?
A company spokesperson says discussions are ongoing.
Archer Daniels Midland Co. (ADM; Decatur, IL) is a leading supplier of cocoa and chocolate ingredients, including its deZaan line of cocoa powders. But company spokesperson Jackie Anderson said, in an official statement, that the company is looking to get out of the cocoa business:
Consistent with our commitment to create shareholder value, we regularly evaluate strategic options and maintain ongoing dialogue with other agribusiness companies to explore opportunities. We are currently engaged in discussions about the potential sale of our cocoa business. These discussions are ongoing, and there can be no assurance that they will result in the signing of a transaction or definitive agreement. We will communicate further if appropriate.
ADM’s cocoa business is reportedly valued at $2 billion.
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