Sector News

Cargill reaches deal to sell German chocolate unit

February 23, 2016
Consumer Packaged Goods

U.S. agribusiness giant Cargill said on Monday it had reached an agreement to sell its industrial chocolate production unit in Mannheim, Germany, to Dutch investment companies Nimbus and Varova.

Cargill had agreed to dispose of the activities as part of European Union approval for its acquisition of the global chocolate business of U.S. group ADM (ADM.N) in August 2015.

“Cargill has reached an agreement with Nimbus and Varova regarding the sale of the chocolate business in Mannheim,” a Cargill spokeswoman in Germany told Reuters.

“Depending on approval from authorities we expect that the sale will be completed in the first quarter of 2016.”

The price of the deal and the capacity of Mannheim’s activities were not disclosed.

(Editing by Mark Potter)

Source: Reuters

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