W.R. GRACE <GRA>, BERISFORD PLAN COCOA VENTURE W.R. Grace and Co said it has agreed to combine its cocoa processing businesses with those of S. and W. Berisford PLC. It said the joint venture, to be 68.4 pct owned by Grace and 31.6 pct by Berisford, would have annual sales in 1987 of over 700 mln dlrs. Grace said the transaction involves the combination of its cocoa products division and two Berisford cocoa processing units, which would be operated under Grace management. The company said Berisford would contribute its Dutch and West German cocoa subsidiaries and issue new ordinary shares to Grace in connection with the transaction. It said closing is expected by early fall, subject to regulatory approvals.