Golden Peanut Company, a subsidiary of Archer Daniels Midland, has acquired processing facilities and certain assets of pecan processor Harrell Nut Company.
The move comes in response to the growing demand for healthier, more convenient foods. The demand for pecans in the US has increased nearly 40% over the past ten years.
Harrell Nut Company serves both domestic and international markets. It operates facilities in Camilla, Georgia; El Paso, Texas; and Monticello, Florida.
Additionally, Golden Peanut has changed its name to Golden Peanut and Tree Nuts.
Golden Peanut and Tree Nuts president Kris Lutt said: "By expanding our product portfolio, we are improving our ability to serve our customers while taking another step in our efforts to reduce earnings volatility.
"Our diversification into tree nuts began earlier this year, when we acquired 50 percent ownership of South African Pecans. We're taking another step today. The acquisition of Harrell Nut Company moves us into the U.S. pecan market -- a market that we expect will see increasing consumer interest in the coming years."
Golden Peanut and Tree Nuts is also introducing a new logo for its expanded product offerings.
Image: Harrell Nut Company processes pecans. Photo: courtesy of papaija2008 / FreeDigitalPhotos.net .
