Soft commodity trade house Armajaro is seeking a buyer for its cocoa, coffee and sugar trading arm, the Financial Times reported on Sunday citing people familiar with the matter.
The FT said several suitors were circling Armajaro Trading after a deal with a prospective buyer fell through. The business was valued at between $200 and $300 million last year but a difficult trading environment for soft commodities has since weighed on its profitability.
The London-based firm reported a loss of $7.6 million for the year ended Sept. 30, 2012.
Armajaro said in August it was reviewing its cocoa business including in top grower Ivory Coast, where it has stopped participating in daily auctions, and was considering closing the Ecuador unit.
The review coincided with the departure of Andrew Stone, who was chief executive for just seven months.
Armajaro could not be reached for comment on Sunday.