US-based food processing company Archer Daniels Midland (ADM) has completed the previously announced acquisition of natural and organic food producer Specialty Commodities (SCI) for $191m.
Specialty Commodities processes and distributes healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains for snack, ice cream, cereal, nutrition bar, health food, bakery, pet food and bird food producers.
Specialty Commodities will now operate as a part of ADM's new WILD Flavors and Specialty Ingredients business unit. Its majority owner is Goldner Hawn Johnson & Morrison.
ADM's WILD Flavors and Specialty Ingredients business unit president Greg Morris said: "We are continuing to expand our specialty ingredients portfolio to better serve our customers, improve returns and reduce the volatility of our earnings.
"Now that Specialty Commodities has joined ADM, we'll be looking at ways to combine SCI's healthy ingredients with ADM's existing products to offer our customers a wider and fuller range of products."
Ken Campbell, formerly ADM's North American Oilseeds vice president, has been named president, Specialty Commodities and Kevin Andreson, Specialty Commodities' former chief operating officer, has been appointed ADM's Specialty Commodities vice president.
Image: Specialty Commodities processes and distributes nuts, fruits, seeds, legumes and ancient grains.
