ConAgra Foods, Cargill and CHS are set to combine their North American flour milling businesses to form a new flour milling company known as Ardent Mills, which will cater to the customers in the baking and food industries.
Ardent Mills will bring together the leading flour milling companies in the US - ConAgra Mills and Horizon Milling, which is a Cargill-CHS joint venture formed in 2002.
The formation of Ardent Mills, which is subject to customary closing conditions and regulatory approvals, is expected to be completed by the end of this year.
ConAgra Foods and Cargill will each own a 44% stake in the new company, while CHS will own the remaining share.
Ardent Mills will operate as an independent joint venture of its three parent companies. Horizon Milling's president Dan Dye will lead the new company as chief executive officer; ConAgra Mills president Bill Stoufer will serve as chief operating officer and chief integration officer.
The new company will take advantage of the combined assets, capabilities and expertise of ConAgra Foods, Cargill and CHS to offer flour and grain products, services and solutions. The products will be supported by an extensive network of wheat sourcing capabilities and flour milling and bakery mix facilities across North America.
Ardent Mills will also offer product development resources, technical and application support, supply chain management and commodity price risk management services.
