Archer Daniels Midland Company (ADM) has acquired the remaining 60% stake in Brazilian natural extracts manufacturer Amazon Flavors.
The financial details of the transaction have not been disclosed.
ADM's WILD Flavors and Specialty Ingredients business unit president Vince Macciocchi said: "Brazil is a key market as we continue to grow our ingredient sales around the globe.
"Brazil is the largest food and beverage market in South America, and we look forward to working with the Amazon Flavors team to ensure that we are the go-to source for Brazilian food and beverage customers."
Amazon Flavors has production facilities in Manaus and product development and application laboratories in Manaus and S?o Paulo.
Amazon Flavors also derives natural extracts from guarana plant and a?ai berries as well as cola, energy and other compounds for the Brazilian beverage market.
Vince Macciocchi said: "WILD Flavors and Specialty Ingredients is continuing to deliver shareholder value through strategic expansions and additions to our product portfolio.
"From our majority stake in Harvest Innovations, to our Eatem foods acquisition, to the addition of SUPERB to our protein and fiber ingredient portfolio, we are executing on our plan to build global ingredient and flavor capabilities and offer our customers a full slate of customized turnkey solutions."
ADM South America president Scott Fredericksen said: "This is yet another sign of our commitment to grow our already substantial business in Brazil. From the expansion of our ports in Santos and Barcarena, to the construction of our new protein facility in Campo Grande, to this enhanced presence in the Brazilian flavor industry, ADM continues to invest in Brazil."
