Touton cocoa business explores sale of the group to US firm Hartree Partners

French-based cocoa business, Touton, has confirmed that it is exploring a sale of the company to US-based Hartree Partners global energy and commodities trading enterprise, reports Neill Barston.

The American business, which has its headquarters in New York, has continued its expansion since founding in the late 1990s, seeking to extend its portfolio into agricultural spheres.

It follows a move by the business to acquire  ED&F Man Commodities in July 2025, with the deal – for an undisclosed sum, is anticipated to be completed by January 2026.

For its part, Touton, has been a key player in the cocoa trade, with a huge history dating back to 1848, and has built an international platform for its cocoa, including making notable strides with the development of its sustainability programme.

Notably, this summer, the business released its latest sustainability report,  which showed that the company had worked with more than 700,000 people in its agricultural value chain, with more than 300,000 hectares of land assessed ahead of the EUDR regulations due to take effect at the end of this year.

Its sustainability capabilities have enabled the company to navigate recent cocoa crop season deficits and maintain supply commitments through volatile market conditions, reflecting the strength of its trading desks and research capabilities.

Last year, Touton reportedly had a turnover of €1.84 billion, with net income of €128 million – a figure which is said to have been boosted by the comparatively high price of cocoa last year, and into 2025.

As the company noted, it has over 15 years of experience developing bottom-up sustainability programs and has built a fully traceable, 100% sustainable direct cocoa supply chain. Notably, the company was among sector players signing up to the 2017 Cocoa and Forests initiative in Ghana and Ivory Coast, aiming to drive down deforestation rates linked to industrial activity including cocoa production.

Patrick de Boussac, CEO and Chairman, commented: “This partnership with Hartree would mark a significant milestone in Touton’s journey. With our shared commitment to excellence, long-term relationships, and global reach, we are confident that Hartree would be the right partner to support Touton’s continued growth and diversification. I am proud of what our teams have built over generations, and excited for the opportunities ahead.”

Stephen Hendel, Founding Managing Director at Hartree, believed the move would be mutually beneficial.

He commented: “Touton’s legacy, market expertise, and global footprint would make it a natural fit for Hartree’s growing soft commodities platform. We are excited about the opportunity to welcome the Touton team and to support their next chapter of growth.”