ADM Continues Growth in High-Value Flavor Segment with Acquisition of Flavor Infusion International
CHICAGO--(BUSINESS WIRE)-- ADM (NYSE: ADM), a global leader in nutrition and agricultural origination and processing, today announced that it has acquired Flavor Infusion International, S.A. (FISA), a full-range provider of flavor and specialty ingredient solutions for customers across Latin America and the Caribbean.
“We’re excited to open up new growth opportunities in Latin America and the Caribbean with the addition of FISA,” said Vince Macciocchi, president of ADM’s Nutrition business. “Our Nutrition segment has been delivering profit growth of 15 to 20 percent a year, and our flavors business has been an important driver of that success, with annual sales growth of more than 10%. This acquisition represents another important bolt-on addition as we expand our capabilities in this high-value segment.”
With this acquisition, ADM adds an experienced and successful team of 60 colleagues who serve a growing list of food and beverage customers across Latin America and the Caribbean with a wide range of flavor ingredients and solutions from two state-of-the-art manufacturing facilities in Panama and Colombia.
“I’m pleased to welcome the FISA team to ADM,” Macciocchi continued. “They’ve built a great business, and we’re planning a seamless transition as we add our global capabilities to expand the range of products, services and solutions we can offer to existing and new customers in growing segments across Latin America and the Caribbean. We look forward to working together with our new colleagues as we continue to build the world’s leading Nutrition company.”
“Having founded and owned numerous flavor operations for more than 50 years, I can confidently say that ADM is the ideal partner to carry on FISA’s legacy as a premier provider of flavor and specialty ingredient solutions to the beverage industry in Latin America and the Caribbean,” said Daniel DeClark, Chairman and CEO of FISA. “FISA’s customers, as well as its employees, will benefit from ADM’s global presence, significant R&D capabilities and robust sales and marketing resources. Strategically, this transaction is a perfect fit for both parties. Congratulations to all involved!”
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.
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
Source: Corporate Release
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