ADM Enhances Plant Protein, Gluten-Free Ingredient Portfolio with Purchase of Harvest Innovations
February 02 2016 - 10:19AM
Business Wire
- New capabilities build on and
complement ADM’s wide range of ingredients to meet growing demand
for organic, expeller-pressed, gluten-free and non-GMO food
- Combination will create industry’s
broadest, most vertically integrated soy protein company, and only
fully integrated supply chain—from origination to final
ingredients—for gluten-free solutions
Archer Daniels Midland Company (NYSE: ADM) announced today that
it has reached an agreement to purchase a controlling stake in
Harvest Innovations, an industry leader in minimally processed,
expeller-pressed soy proteins, oils and gluten-free
ingredients.
“More and more consumers are looking for foods that are
gluten-free, that aren’t genetically modified, and that are healthy
and organic, and ADM is perfectly positioned to meet those needs,”
said Vince Macciocchi, president of ADM’s WILD Flavors and
Specialty Ingredients business unit. “We were already the provider
of choice for a wide range of healthy, clean-label ingredients, and
in the last year, we’ve significantly expanded our product
portfolio. Today’s addition perfectly complements our existing
ingredient businesses and offers customers a full-service, one-stop
shop for their ingredient needs.”
Harvest Innovations uses expeller pressing to turn grains,
legumes and oilseeds into minimally-processed, non-GMO, organic,
gluten-free ingredients. Products range from non-GMO soy chips,
expeller-pressed soy flour and textured vegetable protein, to the
industry’s only organic soy crisps, to gluten-free flours and
pastas.
“We are not done growing,” Macciocchi added. “Today, we offer an
unmatched range of products, a fully integrated soy protein and
gluten-free supply chain, and world-class formulation and solution
expertise. We’re continuing to add to our capabilities, execute our
plan to grow strategically, and deliver value for our customers and
our shareholders.”
Harvest Innovations is based in Indianola, Iowa, and has a
second processing facility in Deshler, Ohio.
“This is a great opportunity for the Harvest business, the
Harvest team and Harvest customers,” said Barry Nadler, president
and co-owner of Harvest Innovations. “We’re excited to join our
resources and expertise with ADM’s to grow our business, and to
serve more customers with more products, more innovation, and more
great customer service.”
ADM anticipates closing the transaction, which is subject to
regulatory approval, 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 WILD Foods and Specialty Ingredients
ADM’s WILD Flavors and Specialty Ingredients business unit, or
WFSI, offers a comprehensive portfolio of ingredients to help
customers deliver products that address taste, texture, nutrition
and function. That portfolio also includes a wide range of
proteins, lecithins, edible beans and related ingredients,
hydrocolloids, polyols, soluble fiber products and other
ingredients.
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
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160202006110/en/
Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 312-634-8484media@adm.com
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