Cargill agrees to buy ADM's chocolate business for $440 million

NEW YORK, Sept 2 Tue Sep 2, 2014 9:52am EDT

NEW YORK, Sept 2 (Reuters) - Cargill Inc said it has agreed to buy Archer Daniels Midland Co's global chocolate business for $440 million in a move to expand its production capacity in North America.

The deal includes three North American chocolate plants and three in Europe, and increases production capacity, particularly in North America, it said.

The deal comes just over four months since ADM ditched plans to sell its cocoa and chocolate business after long-running negotiations collapsed.

Cargill had been in final-stage talks to buy the combined operation, sources told Reuters last year.

(Reporting by Josephine Mason, Editing by Franklin Paul)

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