Archer Daniels Midland Company (ADM) announced it has signed an agreement to purchase Schokinag-Schokolade-Industrie Herrmann GmbH & Co. KG, a European producer of chocolate and cocoa powder, upon approval by relevant antitrust authorities.
“ADM’s acquisition of Schokinag will strengthen our position in Europe, the world’s largest chocolate market,” said Scott Walker, managing director, ADM Cocoa International. “By integrating Schokinag into our cocoa business, we will better serve this steadily growing chocolate market and realize significant efficiencies in sourcing, operations and transportation.”
“For the people of Schokinag and for our customers, I see this as a great opportunity,” said Hans Hermann, owner and chief executive of Schokinag. “ADM Cocoa’s global strengths in sourcing and processing, combined with Schokinag’s long tradition and service to European and global chocolate markets, are a combination that is a good foundation for future growth for our employees, our valued customers and the Mannheim community.”
ADM expands business with acquisition of Schokinag
February 16, 2009