€2.3bn deal gets ADM into rapidly-growing area of naturally-sourced flavourings
Crop-derived chemicals giant Archer Daniels Midland (ADM) has agreed to buy German food ingredients specialist Wild Flavors for €2.3 billion (£1.8 billion), including €100 million of assumed debt. The deal will expand ADM’s portfolio of food ingredients and give it access to the rapidly-growing sector of naturally-sourced flavourings and extracts.
‘Wild Flavors will be able to reach more customers with an expanded portfolio of innovative ingredients,’ said Patricia Woertz, ADM’s chief executive, in a statement. ‘And ADM, with our own sizeable speciality ingredient business, will have an enhanced platform for the commercialisation of our higher-margin food and wellness ingredients.’
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