Global commodities trading firm Hartree Partners has completed its acquisition of French soft commodity trader Touton SAS (Société par Actions Simplifiée), the two companies confirmed on April 2, 2026, marking one of the most significant consolidation moves in the cocoa and coffee trading sector in recent years.
The transaction, completed following consultation with employee representatives and the satisfaction of all customary closing conditions, extends Hartree’s strategic expansion in commodities and builds on its July 2025 acquisition of ED&F Man Commodities.
Founded in 1848, Touton is headquartered in Bordeaux, France, and has grown into a globally recognized trader and supply chain manager with deep expertise in cocoa, coffee, and ingredients. The company operates through more than 700 employees across 18 subsidiaries and occupies a significant independent position in the global value chain.
Touton processed approximately 308,000 metric tonnes of cocoa in its most recent reporting year, with Reuters previously describing the group as trading nearly 10% of the world’s cocoa.
Touton’s coffee trading capabilities complement ED&F Man’s existing coffee business, Volcafe, and broaden Hartree’s soft commodities footprint to include cocoa, vanilla, and spices. Touton will continue to operate under its current brand and leadership team, led by President Patrick de Boussac, maintaining existing client relationships and sustainability programmes.
The deal reflects a broader pattern of consolidation among major commodity traders as access to origin relationships, traceability infrastructure, and regulatory compliance capability becomes increasingly valuable in a market shaped by years of price volatility, tightening sustainability rules, and the European Union’s Deforestation Regulation. For buyers and producers navigating this environment, the emergence of larger, more integrated trading houses with stronger origin networks is likely to reshape how physical cocoa supply is sourced and managed in the years ahead.
