Cargill contemplates cocoa purchase for a huge hill of beans

Author:
Updated:
Original:

In an exclusive report, Reuters spills the beans that Cargill Inc. is exploring the purchase of a rival cocoa business now owned by the Archer Daniels Midland Co.. The ADM business is estimated to be worth $2 billion.

Reuters quotes a source who said that the privately held, Minnetonka-based agribusiness giant has performed due diligence on the ADM business. It's unclear whether Cargill has placed a bid for ADM's unit.

ADM declined to comment beyond a short statement in June that it was in discussions about a potential sale. A Cargill spokesman would not comment on the possible ADM bid, but said in an email the company is assessing initiatives.

If the transaction goes through, it would make Cargill a major global player in the cocoa sector.Cargill has been investing in cocoa, currently running cocoa plants in West Africa, Brazil, Indonesia and major European consuming countries. Cargill acquired German cocoa grinder Kakao Verarbeitung Berlin in 2011.

Next Up

Pexels - newborn baby blanket

Henry continues its run as MN's most popular baby name

The state's 100 most popular baby names were revealed this week.

Kaprizov, Wild

Wild to face Vegas in playoffs; Game 1 Sunday

Game 1 is Sunday afternoon in Las Vegas.

Eric Kendricks

Coller: Do the Vikings have a tough schedule?

Matthew Coller writes a weekly Vikings column for BMTN, with more of his work found at Purple Insider.

Screen Shot 2020-01-02 at 7.54.07 AM

Grand jury indicts 2 with aiding and abetting murder of Minneapolis Realtor

Four people have now been indicted by a grand jury in connection to the 2019 killing of Monique Baugh.

Nelson Cruz

White Sox sweep Twins for first time since 2016

The Twins' offense disappeared in a 4-2 loss on Thursday.

Mike Hughes

Report: Vikings trade Mike Hughes to Kansas City

The Vikings received a 2022 sixth-rounder in exchange for the former first-round pick.

Ambulance hospital emergency

Backup from fatal crash in Stearns County leads to another bad crash

The crash backed up traffic, which led to another crash in which two people were injured.

Gluten free pizza

For The Week: Monster cookies, and a search for the best gluten-free pizza in MN

BMTN food writer Lindsay Guentzel's weekly column aims to make life in the kitchen easier.

Related