Hartree in talks to buy major cocoa trader Touton, sources say

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By May Angel and Gus Trompiz

LONDON/PARIS (Reuters) -Global energy and commodities trader Hartree Partners is in talks to acquire French agro-industrial firm Touton, which trades nearly 10% of the world’s cocoa, two sources with direct knowledge of the matter told Reuters.

The global cocoa trade is experiencing a major shakeup as problems in West Africa – the world’s top growing region – push prices to historic highs, putting pressure on independent firms like Touton, which traces its history back more than 150 years.

One of the sources said Touton executives discussed an acquisition deal in person with Hartree founding partner Stephen Hendel and the firm’s head of investments Scott Levy about a month ago.

A second source