ADM Completes $191 Million Acquisition of Specialty Commodities
Archer Daniels Midland Company has completed its acquisition of Specialty Commodities, a leading originator, processor and distributor of healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains, for $191 million (including $95 million in working capital).
SCI, which was founded almost three decades ago, works with a global network of suppliers to source natural and organic ingredients and distribute them to customers in the snack, ice cream, cereal, nutrition bar, health food, bakery, pet food and bird food markets.
SCI will become part of ADM’s new WILD Flavors and Specialty Ingredients business unit.
“We are continuing to expand our specialty ingredients portfolio to better serve our customers, improve returns and reduce the volatility of our earnings,” says Greg Morris, president of ADM’s WILD Flavors and Specialty Ingredients business unit. “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.”
