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EU: Acquisition of ADM US $1.3 billion cocoa business by Olam

By  |  June 11, 2015

The European Commission said on Thursday it had approved the acquisition of Archer Daniels Midland Co’s cocoa business by Olam International Ltd.

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    The $1.3 billion deal, Olam’s biggest ever, will catapult the Singapore-based commodities firm into the top tier of global suppliers to the growing chocolate business.

    Olam will acquire one of the world’s largest processors and suppliers of cocoa liquor, powder and butter, with eight factories from Ivory Coast to Singapore.

    “The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies’ moderate combined market positions and the presence of a number of strong players supplying beans and cocoa products in the European Economic Area (EEA),” a statement said.

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