- Toll producer for Harvest Innovations will further enhance ADM’s capabilities in the gluten-free and high-protein specialty pasta market
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it has
purchased the assets of Caterina Foods, a leading toll manufacturer of
specialty gluten-free and high-protein pastas.
“ADM is continuing to deliver on our strategy to create shareholder
value by expanding our capabilities downstream in the value chain,” said
Vince Macciocchi, president of ADM’s WILD Flavors and Specialty
Ingredients business. “Caterina is a toll processor for our
majority-owned Harvest Innovations, and will be a key part of our growth
plans for that important business. The addition of the Caterina business
gives us yet another way in which to meet the needs of health-conscious
consumers—in this case expanding our ability to produce specialty pastas
from legumes and grains other than wheat.”
Caterina produces gluten-free and high-protein pastas in a variety of
shapes and sizes from flours made from corn, lentils, peas, rice, quinoa
and many other grains and legumes.
“Since we purchased a controlling stake in Harvest Innovations, we have
continued to see increased demand for gluten-free and other non-wheat
pastas,” Macciocchi continued. “Together, Harvest and Caterina will
allow us to streamline our operations while expanding our capabilities
in this growth area. We are looking forward to finding new ways to
expand and advance the Harvest and Caterina businesses, and working with
customers across the country to meet their ingredient needs for
Caterina Foods, based in Lake Bluff, Illinois, has about 60 employees.
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.
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