- Combines QLF production and market expertise with ADM’s extensive network and global resources
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) and Quality Liquid Feeds,
Inc. today announced that the two companies have entered into a 50-50
joint venture for the production and sale of liquid feed supplements for
livestock. The joint venture consists of four liquid feed production
facilities formerly owned by ADM—in Twin Falls, Idaho; Billings,
Montana; Fremont, Nebraska; and Johnstown, Colorado—as well as the
Loomix® brand. The new venture, which will be called Alliance Liquid
Feeds, will serve portions of the Western United States. Quality Liquid
Feeds continues to be owned by the Berg family and will continue to
market QLF-branded liquid feed supplements out of their 12 facilities in
the Midwest, East and Southwest United States.
“One of the ways we are increasing earnings power at ADM is by
partnering with other great companies,” said Brent Fenton, president,
ADM Animal Nutrition. “In this case, we’re joining with a strong partner
in QLF, which allows us to expand our capabilities while simultaneously
reducing the capital we have invested in the liquid feed business.
Customers will benefit from the combined expertise, resources and
efficiency of the joint venture, and our shareholders will benefit from
the improved returns we expect from the business. And by combining
resources, we expect to see significant advancements in operational
efficiencies, from capital reduction to supply chain enhancements to
QLF CEO Cory Berg said: “This joint venture allows us to expand into
markets that we had our sights on for a number of years. The new company
will benefit from QLF’s expertise and 38 years of experience producing
and supplying liquid feed 24 hours a day, seven days a week, 365 days a
year. At the same time, it provides us a strong partner in ADM, with its
overwhelming supply of ingredients, experience and knowledge in supply
chain management, research, and industry connections.”
Existing Loomix customers will see a seamless transition as the new
business continues to offer high-quality products, strong customer
service and, eventually, new products.
Some of the above statements constitute forward-looking statements.
ADM’s filings with the SEC provide detailed information on such
statements and risks, and should be consulted along with this release.
To the extent permitted under applicable law, ADM assumes no obligation
to update any forward-looking statements.
About ADM Animal Nutrition
ADM Animal Nutrition is a leading manufacturing, nutrition and marketing
business offering a wide range of innovative products for the animal
nutrition market. Known as a global leader in amino acids, ADM Animal
Nutrition also offers consistent, high-quality feed products,
supplements, premixes, custom ingredient blends and specialty feed
ingredients designed to provide leading-edge solutions, enabling our
customers to meet and optimize animal health and nutrition goals.
Quality Liquid Feeds is a nationwide, innovative leader in the
developing and manufacturing of liquid feed supplements for livestock.
With 12 manufacturing plants across the United States, QLF is the
largest family- and American-owned liquid feed company in the country.
For over 37 years, QLF has been a company with a reputation for
marketing products based on quality, consistency and service.
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve the vital
needs of a growing world. Today, we’re one of the world’s largest
agricultural processors and food ingredient providers, with more than
33,000 employees serving customers in more than 140 countries. With a
global value chain that includes more than 460 crop procurement
locations, 300 ingredient manufacturing facilities, 40 innovation
centers and the world’s premier crop transportation network, we connect
the harvest to the home, making products for food, animal feed, chemical
and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Jackie Anderson, 312-634-8484