Cargill Rumored to Purchase $2 Billion ADM Cocoa Business

NEW YORKCargill Inc., Wayzata, MN is reported to be exploring the possibility of purchasing Archer Daniels Midland Co.'s cocoa business, with an estimated worth of $2 billion. Should Cargill purchase ADM's cocoa division the sale would result in a company competitive with Barry Callebaut, the world's leading industrial chocolate product manufacturer.

Reuters reports Cargill is exploring the deal, but early news reports do not indicate whether the firm has placed a bid. Cargill recently announced expansion of its cocoa business with plans to complete a $100 million cocoa processing facility in Indonesia.