- New capabilities build on and complement ADM’s wide range of ingredients to meet growing demand for organic, expeller-pressed, gluten-free and non-GMO food
- Combination will create industry’s broadest, most vertically integrated soy protein company, and only fully integrated supply chain—from origination to final ingredients—for gluten-free solutions
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it has
reached an agreement to purchase a controlling stake in Harvest
Innovations, an industry leader in minimally processed, expeller-pressed
soy proteins, oils and gluten-free ingredients.
“More and more consumers are looking for foods that are gluten-free,
that aren’t genetically modified, and that are healthy and organic, and
ADM is perfectly positioned to meet those needs,” said Vince Macciocchi,
president of ADM’s WILD Flavors and Specialty Ingredients business unit.
“We were already the provider of choice for a wide range of healthy,
clean-label ingredients, and in the last year, we’ve significantly
expanded our product portfolio. Today’s addition perfectly complements
our existing ingredient businesses and offers customers a full-service,
one-stop shop for their ingredient needs.”
Harvest Innovations uses expeller pressing to turn grains, legumes and
oilseeds into minimally-processed, non-GMO, organic, gluten-free
ingredients. Products range from non-GMO soy chips, expeller-pressed soy
flour and textured vegetable protein, to the industry’s only organic soy
crisps, to gluten-free flours and pastas.
“We are not done growing,” Macciocchi added. “Today, we offer an
unmatched range of products, a fully integrated soy protein and
gluten-free supply chain, and world-class formulation and solution
expertise. We’re continuing to add to our capabilities, execute our plan
to grow strategically, and deliver value for our customers and our
Harvest Innovations is based in Indianola, Iowa, and has a second
processing facility in Deshler, Ohio.
“This is a great opportunity for the Harvest business, the Harvest team
and Harvest customers,” said Barry Nadler, president and co-owner of
Harvest Innovations. “We’re excited to join our resources and expertise
with ADM’s to grow our business, and to serve more customers with more
products, more innovation, and more great customer service.”
ADM anticipates closing the transaction, which is subject to regulatory
approval, in the coming months.
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 WILD Foods and Specialty Ingredients
ADM’s WILD Flavors and Specialty Ingredients business unit, or WFSI,
offers a comprehensive portfolio of ingredients to help customers
deliver products that address taste, texture, nutrition and function.
That portfolio also includes a wide range of proteins, lecithins, edible
beans and related ingredients, hydrocolloids, polyols, soluble fiber
products and other ingredients.
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
32,300 employees serving customers in more than 160 countries. With a
global value chain that includes 428 crop procurement locations, 280
ingredient manufacturing facilities, 39 innovation centers and the
world’s premier crop transportation network, we connect the harvest to
the home, making products for food, animal feed, industrial and energy
uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Jackie Anderson, 312-634-8484