Sector News

EU regulators extend Cargill, ADM chocolate deal review to July 23

March 27, 2015
Consumer Packaged Goods
(Reuters) – European Union antitrust regulators have extended their investigation into Cargill Inc’s planned takeover of Archer Daniels Midland Co’s chocolate business to July 23 after the companies asked for more time.
 
The Commission opened an extensive probe last month, worried that the $440 million deal, which is designed to expand the commodity trader’s production capacity in North America, may push up prices. The previous deadline for its decision was July 8.
 
The EU competition watchdog said it was concerned about the supply of industrial chocolate to customers in Germany and Britain, where Cargill, ADM and Barry Callebaut AG were the main suppliers to customers.
 
Companies typically offer concessions such as asset sales to ease competition concerns unless they can convince the regulator that their deals would not have an negative impact. (Reporting by Foo Yun Chee, editing by David Evans)

comments closed

Related News

July 21, 2024

Danone taps R&D leader Carla Hilhorst to drive research and innovation strategy

Consumer Packaged Goods

Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.

July 21, 2024

Pernod Ricard to sell international wines portfolio to Accolade Wines owner

Consumer Packaged Goods

The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.

July 21, 2024

Aryzta appoints former employee Michael Schai as new CEO

Consumer Packaged Goods

Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.

How can we help you?

We're easy to reach