June 20, 2013 / 10:12 PM / 5 years ago

ADM says in talks to sell cocoa business

NEW YORK, June 20 (Reuters) - Archer Daniels Midland Co said on Thursday it is in talks to sell its cocoa business.

“We are currently engaged in discussions about the potential sale of our cocoa business,” a statement said.

Few other details were available, but a move to sell comes as Swiss chocolate maker Barry Callebaut, the world’s largest industrial chocolate maker, finalizes its acquisition of Petra Foods’ cocoa operations, tightening its grip on the global cocoa market.

ADM is one of the four “ABCD” companies that dominate the global trade in agricultural goods, alongside Bunge Ltd, Cargill Inc and Louis Dreyfus Corp.

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