Will expand its food ingredients offering by forming a new business unit, WILD Flavors and Specialty Ingredients
US food ingredients manufacturer Archer Daniels Midland (ADM) has completed its acquisition of Wild Flavors, a supplier of natural ingredients headquartered in Germany, for €2.3bn.
ADM will form a new business unit, WILD Flavors and Specialty Ingredients, which will include the WILD business as well as a number of ADM product lines, including speciality proteins (including isolated soy proteins, textured vegetable protein, soy protein concentrates, and soy flour and grits); emulsifiers; edible beans; natural health and nutrition (natural-source vitamin E, plant sterols, soy isoflavones and omega-3 DHA); soluble fibre; polyols and hydrocolloids.
The new business unit will be a reportable segment from 1 January 2015.
'One of the most important ways we are working to increase returns and reduce earnings volatility is through the growth of our speciality ingredient offerings,' said ADM Chairman and CEO Patricia Woertz.
'These high-value products provide the opportunity for increased margins and strong sales aligned with global consumer trends. WILD Flavors is the latest in a series of strategic expansions in speciality ingredients, including our new Brazilian protein specialties complex and our Chinese soluble-fibre facility.'
These high-value products provide the opportunity for increased margins and strong sales aligned with global consumer trends
Greg Morris will be President of the WILD Flavors and Specialty Ingredients business unit. He was most recently ADM’s President, North American Oilseeds Processing, where in addition to overseeing more than two dozen oilseed crushing plants, he led the creation of the company’s Foods & Wellness business, developing a high-margin, highly specialised portfolio of innovative products.
WILD's North American Chief Operating Officer, Vince Macciocchi, has been named Global President of WILD Flavors. In addition to leading the WILD Flavors business worldwide, Macciocchi will be responsible for designing the new business unit’s market strategy and will play a key role in several ADM initiatives, including the company’s innovation and customer excellence efforts.
Mike Ponder, WILD’s Chief Executive, recently announced his retirement and will join former majority owner Dr Hans-Peter Wild on an advisory board for the business.
Woertz added: 'Dr Wild has built a great company, and we intend to support WILD’s innovative, entrepreneurial culture. Between our global networks, tremendous innovation capabilities, great teams, and extensive product lines from both ADM and WILD, we now have one of the world’s leading flavours and speciality ingredient companies.'