Hartree Partners has completed its acquisition of Touton SAS, expanding its footprint in global agricultural markets and strengthening its position across the soft commodities supply chain.
The transaction follows Hartree’s earlier acquisition of ED&F Man Commodities in July 2025 and represents a continued push into agricultural trading alongside its established energy and metals businesses.
Founded in 1848 and headquartered in Bordeaux, Touton specializes in cocoa, coffee, vanilla, and spices. The company operates across 18 subsidiaries with more than 700 employees, combining local sourcing networks with long-standing producer relationships and sustainability-focused supply chain programs.
Touton’s capabilities will complement Hartree’s existing coffee platform, including Volcafe, while broadening its exposure to additional soft commodities such as cocoa, vanilla, and spices. The combined organization is expected to enhance sourcing, trading, and risk management capabilities while expanding sustainable and traceable supply chains.
Touton will continue operating under its existing brand and leadership, with President Patrick de Boussac remaining in place. The company will maintain its current client relationships, sustainability initiatives, and operational structure to ensure continuity for stakeholders.
Advisors on the deal included ING Corporate Finance M&A as financial advisor to Touton, with Clifford Chance providing legal counsel and PwC supporting due diligence. Société Générale advised Hartree, with Herbert Smith Freehills Kramer serving as legal counsel and PwC Société d’Avocats providing tax advice.
KEY QUOTES
“We are pleased to officially welcome Touton’s talented team to Hartree. Touton’s deep expertise in the trading of cocoa, coffee, vanilla, and spices combined with its trusted relationships across producing regions, strengthens our ability to deliver value throughout the soft commodities supply chain. I look forward to what this partnership will unlock for our people, our customers, and the communities we serve.”
Stephen Hendel, Founding Managing Director, Hartree Partners
“Today marks the beginning of an exciting new chapter for Touton. Joining forces with Hartree represents the opportunity to be part of a broader platform with even greater possibilities for growth. Together with Hartree, we will build on the strong foundation our teams have created over generations, underpinned by our shared values of integrity, long-term thinking, and commitment to sustainable supply chains.”
Patrick de Boussac, President, Touton SAS
