ADM Invests in Further Global Growth of Natural Citrus Offerings with Acquisition of the Ziegler Group
CHICAGO--(BUSINESS WIRE)--Mar 15, 2019--Archer Daniels Midland Company (NYSE: ADM) announced today that it has reached an agreement to acquire the Ziegler Group, a leading European provider of natural citrus flavor ingredients. The agreement comes shortly after ADM completed its addition of U.S.-based citrus flavor provider Florida Chemical.
“Ziegler is highly respected as a cutting-edge leader in citrus, and we’re excited to welcome their outstanding leadership and talent to ADM,” said Vince Macciocchi, president of ADM’s Nutrition business. “The combination of Ziegler and Florida Chemical will immediately position ADM for growth as a global leader in natural citrus ingredients, with a complete range of innovative citrus solutions and systems for food, beverage and fragrance customers.”
Founded in 1963, Ziegler uses proprietary cold concentration technologies to produce natural high-quality citrus oils, extracts, concentrates and compounds for flavor, food, and beverage industry customers, focusing on Europe, the U.S. and Japan. The company is privately held and headquartered in Aufsess, in southern Germany.
“We are delighted that we found a strong home at ADM where both our business and our people can grow,” said Günter Ziegler. “The integration of more than 50 years of citrus expertise into the ADM group will secure our top priority: successful long-term growth for our business and our employees. Our family members will be staying with the company to help ensure a smooth transition. We’re excited to join ADM and strongly believe that the combination of our technology and citrus capabilities, coupled with the portfolio of ingredients and global reach of ADM, will accelerate growth opportunities while creating benefits for our customers.”
“Citrus is one of the fastest-growing, highest-demand flavors for food and beverages, which is why the creation of a global citrus platform offering a complete product line for our customers is such an important capability for our growth strategy,” Macciocchi continued. “We’re continuing the most ambitious portfolio transformation in our company’s long history, and as we build the world’s leading nutrition company, the beneficiaries will be our customers and our shareholders.”
The deal, which is subject to regulatory approval, is expected to close in the second quarter of 2019.
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
About ADM Nutrition
ADM is a world-leading nutrition company with the widest range of specialty ingredients, blends, systems and experience. We move customers from concept to launch faster with sustainable, differentiated products that address their evolving needs. ADM helps our customers create consumer-preferred nutritional solutions through our on-trend and customizable portfolio of natural flavors and colors; an unmatched range of plant-based proteins; industry-leading, science-backed bioactives; as well as specialty ingredients such as hydrocolloids, lecithin, Omega-3 solutions, probiotics, polyols, texturants, soluble fibers and much more. Our talented team also provides consumer insights and intelligence; sensory expertise; culinary creativity; and full product-development services.
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. At the end of 2018, we were one of the world’s largest agricultural processors and food ingredient providers, with approximately 32,000 employees serving customers in more than 170 countries. With a global value chain that includes approximately 450 crop procurement locations, 270 food and feed ingredient manufacturing facilities, 46 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more at www.adm.com.
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CONTACT: Archer Daniels Midland Company
KEYWORD: UNITED STATES EUROPE NORTH AMERICA ILLINOIS GERMANY
INDUSTRY KEYWORD: ENERGY OTHER ENERGY MANUFACTURING CHEMICALS/PLASTICS ENGINEERING OTHER MANUFACTURING NATURAL RESOURCES AGRICULTURE RETAIL FOOD/BEVERAGE OTHER SCIENCE SCIENCE
SOURCE: Archer Daniels Midland Company
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PUB: 03/15/2019 08:10 AM/DISC: 03/15/2019 08:10 AM