24 August 2021 | News
Singapore remains Cargill’s strategic regional business hub
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Responding to an Asian marketplace sweet on chocolate products, Cargill has entered into an agreement to acquire Aalst Chocolate, a Singapore-based world-class chocolate manufacturer.
Pending regulatory approval and closing conditions, the acquisition will significantly expand Cargill’s Asia-Pacific footprint, adding chocolate to its existing portfolio of cocoa products, already sold throughout the region.
By partnering together, the two companies will leverage their collective strengths, bringing customers increased security of a reliable supply of high-quality cocoa and chocolate products, better product sensory experience with their combined R&D competencies, and through the Cargill Cocoa Promise, access to a robust sourcing network that aims to ensure a thriving cocoa sector for generations to come.
Upon completion of the transaction, all Aalst assets, including its state-of-the-art manufacturing plant in Singapore, R&D capabilities in Singapore and Shanghai, and its over 200 employees across the region, will join Cargill’s cocoa and chocolate Asia-Pacific operations. Singapore, with its unparalleled supply chain infrastructure and extensive international trade agreements, remains Cargill’s strategic regional business hub.
On the heels of Cargill’s acquisition of Aalst, the company is gearing up to start its first Asian chocolate manufacturing operations in India next month, producing chocolate and chocolate compounds for the domestic market.