ADM Completes Sale of Arkady and Monoglycerides Businesses To Caravan Ingredients
CHICAGO--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) has completed the sale of the Arkady and distilled monoglycerides businesses to Caravan Ingredients, owned by CSM, a Dutch-based internationally operating company. The Arkady and monoglycerides businesses formerly operated under ADM’s Specialty Food Ingredients division. This sale includes the product lines, such as bakery enhancers, mixes, enrichments and distilled monoglycerides, in addition to existing customer base, brands, trademarks and other intellectual property (IP) associated with this business. No physical assets are being acquired.
“We are concentrating on growing our Company through areas where our current expertise and market position add the greatest leverage for our shareholders,” stated Mike Baroni, President-Specialty Food Ingredients.
ADM is selling the blending, monoglycerides and SSL business, which represents approximately $50 million dollars in total sales, a small portion of ADM’s Specialty Food Ingredients business. ADM will continue to provide its customers with premier food ingredients for the baking industry such as flour, sweeteners, oils, emulsifiers and proteins.
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy and has a premier position in the agricultural processing value chain. ADM is one of the world’s largest processors of soybeans, corn, wheat and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean oil and meal, corn sweeteners, flour and other value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 26,000 employees, more than 240 processing plants and net sales for the fiscal year ended June 30, 2006 of $37 billion. Additional information can be found on ADM’s Web site at www.adm.com/.
ADM Media Relations