ADM Adds to South American Ingredient Capabilities with Full Ownership Acquisition of Amazon Flavors
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it has acquired full ownership of Amazon Flavors, a leading Brazilian manufacturer of natural extracts, emulsions and compounds. ADM had previously owned a 40 percent equity stake in Amazon.
“Brazil is a key market as we continue to grow our ingredient sales around the globe,” said Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit. “Brazil is the largest food and beverage market in South America, and we look forward to working with the Amazon Flavors team to ensure that we are the go-to source for Brazilian food and beverage customers.”
With production facilities in Manaus and product development and application laboratories in Manaus and São Paulo, Amazon Flavors creates natural extracts derived from the guarana plant and açai berries, as well as cola, energy and other compounds for the Brazilian beverage market. The company has about 60 employees.
“WILD Flavors and Specialty Ingredients is continuing to deliver shareholder value through strategic expansions and additions to our product portfolio,” added Macciocchi. “From our majority stake in Harvest Innovations, to our Eatem foods acquisition, to the addition of SUPERB™ to our protein and fiber ingredient portfolio, we are executing on our plan to build global ingredient and flavor capabilities and offer our customers a full slate of customized turnkey solutions. We are excited about these expansions, and we continue to look for strategic opportunities to reach new markets and offer new solutions for our customers.”
“This is yet another sign of our commitment to grow our already substantial business in Brazil,” said Scott Fredericksen, president, ADM South America. “From the expansion of our ports in Santos and Barcarena, to the construction of our new protein facility in Campo Grande, to this enhanced presence in the Brazilian flavor industry, ADM continues to invest in Brazil.”
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