ADM Expands Destination Marketing Footprint with Acquisition of Majority Stake in Israeli Merchandiser
May 08 2017 - 7:30AM
Business Wire
- Investment in Industries Centers offers
entry into new markets, opportunities for further expansion
Archer Daniels Midland Company (NYSE: ADM) announced today that
it has reached an agreement to purchase a controlling interest in
Industries Centers, an Israeli company specializing in the import
and distribution of agricultural feed products.
“With this investment, we are continuing to expand and enhance
our core value chain, including our ability to deliver direct to
the customer,” said Joe Taets, president of ADM’s Agricultural
Services business unit. “Industries Centers offers an entry point
into a strong, established Israeli market. We have worked with them
in the past to help us import our own products into Israel, and we
know them as an experienced, capable partner.”
Industries Centers, founded in 1993, trades corn byproducts and
other grain products. It has offices in the Tel Aviv area, and
operates a 45,000 MT storage facility strategically located at the
Port of Ashdod. The company has a significant and diversified
customer base within Israel. It is privately owned.
“This is a great opportunity for us to reach new customers with
a wide array of products, from soybean meal to grains to feed
ingredients,” Taets continued. “It also represents a further
expansion of our destination marketing capabilities, which remain a
strategic priority as we work to enhance shareholder returns by
extending our value chain to the end customer.”
The transaction is subject to regulatory approval in Israel. ADM
anticipates completing the deal in the coming months.
Forward-Looking Statements
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.
About ADM
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
approximately 32,000 employees serving customers in more than 160
countries. With a global value chain that includes approximately
500 crop procurement locations, 250 ingredient manufacturing
facilities, 38 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.
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Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 312-634-8484media@adm.com
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