Milawaukee — After a 24 percent drop in profits last year, Archer Daniels Midland (ADM) Co. is considering selling its cocoa business, the company announced in a statement.
Company Spokeswoman Jackie Anderson says: “We are currently engaged in discussions about the potential sale of our cocoa business. These discussions are ongoing, and there can be no assurance that they will result in the signing of a transaction or definitive agreement. We will communicate further if appropriate.”
The company’s cocoa unit, which is the third largest grinder in the world, accounts for seven percent of ADM’s total operating profit. Cocoa liquor, cocoa butter, cocoa powder, chocolate and various compounds are among its product offerings.