Pestalozzi advises Archer Daniels Midland Company on its sale of the cocoa business to Olam International for 1.2 billion
Archer Daniels Midland Company (ADM) announced the sale of its global cocoa business to Singapore-based Olam International Limited for USD 1.2 billion. The agreement was signed and announced on 15 December 2014 and closed on 15 October 2015. The sale encompasses ADM’s entire global cocoa business, including processing facilities in Rolle, Switzerland; Mississauga, Canada; Koog aan de Zaan and Wormer, Netherlands; Mannheim, Germany; Ilhéus, Brazil; Abidjan, Côte d’Ivoire; Kumasi, Ghana; and Singapore. Also included are ADM’s buying stations in Brazil, Cameroon, Côte d'Ivoire and Indonesia, as well as the company’s deZaan and UNICAO brands. The majority of the approximately 1'550 employees in ADM’s cocoa business will transfer to Olam in the sale. Pestalozzi advised ADM on all Swiss law aspects of the transaction. Jenner Block coordinated the global transaction.