M&A Deal Summary

Cargill Acquires Aalst Chocolate

On August 24, 2021, Cargill acquired food company Aalst Chocolate from KV Asia Capital

Acquisition Highlights
  • This is Cargill’s 15th transaction in the Food sector.
  • This is Cargill’s 1st transaction in Singapore.

M&A Deal Summary
Date 2021-08-24
Target Aalst Chocolate
Sector Food
Buyer(s) Cargill
Sellers(s) KV Asia Capital
Deal Type Add-on Acquisition

Target

Aalst Chocolate

Singapore, Singapore
website
Aalst Chocolate is a manufacturer of chocolate and supplier to customers mainly in Industrial (confectionery, ice-cream, biscuits, and bakery); and Food Service (professionals and chefs). Aalst Chocolate was founded in 2003 and is based in Singapore.

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Buyer(S) 1

Buyer

Cargill

Wayzata, Minnesota, United States

website

Category Company
Founded 1865
Sector Agriculture
Employees142,000
Revenue 136.6B USD (2012)
DESCRIPTION
Cargill's corporate headquarters in Wayzata, Minnesota.
Cargill's corporate headquarters in Wayzata, Minnesota.

Cargill is a global company involved in the food, agriculture, financial, and industrial sectors. Its operations include the trading, processing, and distribution of agricultural commodities; production of meat, poultry, and other food products for both retail and foodservice markets; and the provision of essential industrial products like salt and bio-industrial materials. Cargill was formed in 1865 and is based in Wayzata, Minnesota.

DEAL STATS #
Overall 37 of 41
Sector (Food) 15 of 18
Type (Add-on Acquisition) 24 of 25
Country (Singapore) 1 of 1
Year (2021) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-09 Sanderson Farms

Laurel, Mississippi, United States

Sanderson Farms is is engaged in the production, processing, marketing and distribution of fresh and frozen chicken and other prepared food items. Sanderson Farms was founded in 1947 and is based in Laurel, Mississippi.

Buy $4.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-27 Arkema - Epoxides Business

Blooming Prairie, Minnesota, United States

Arkema's Epoxides Business is a manufacturer of processes that combines soybean oil and other vegetable oils with hydrogen peroxide, resulting in the oxidation of soybean/vegetable oil.

Buy -

Seller(S) 1

SELLER

KV Asia Capital

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

KV Asia Capital is a private equity firm focused on acquiring and investing in mid-sized businesses throughout Southeast Asia. Sectors of interest include consumer, healthcare, manufacturing, and energy services. KV Asia Capital was established in 2010 and is headquartered in Singapore.

DEAL STATS #
Overall 3 of 3
Sector (Food) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Singapore) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 TF Value Mart

Petaling Jaya, Malaysia

TF Value Mart is a hypermarket chain, primarily focused on food and other essentials. It operates a low-cost business model, delivering its products in a no-frills but comfortable environment. The company’s focus is on towns with populations of between 80,000 and 150,000 that are situated away from the major urban centers, where competition is more intense. TF Value Mart was founded in 1957 and is based in Petaling Jaya, Malaysia.

Sell -
Mergr

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