ADM Expands Specialty Ingredient Footprint with Acquisition of California Processing Facility
Archer Daniels Midland Company (NYSE: ADM) announced today that it has acquired tree nut and seed processing assets and operations in Modesto, California, from California Gold Almonds, adding critical processing capacity on top of ADM €™s existing West Coast nut operations in Lodi and Stockton. Under the terms of the deal, ADM is acquiring the lease to the brand-new Modesto processing plant, and taking ownership of assets €”including processing equipment €”at the facility.
€œThis is a great addition that will help us continue to grow sales in our business, € said Vince Macciocchi, president of ADM €™s WILD Flavors and Specialty Ingredients business unit. €œGlobal demand for almonds, macadamias, pumpkin seeds, cashews and other healthy, on-trend nuts and seeds is growing, and production is projected to continue rising. Our Specialty Commodities business is a premier global supplier of healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains; our customers look to us to make sure they can meet growing consumer demand, and we are committed to delivering for them. This acquisition helps ensure that we stay ahead of consumer demand trends, and continue to meet customer needs in a growing market. €
The Modesto plant is capable of steam pasteurizing, roasting, dicing, slicing, milling and packaging. Like ADM €™s plants in Lodi and Stockton, the facility can process a range of nuts, including almonds, cashews, Brazil nuts, pecans, pistachios, hazelnuts, walnuts and macadamias.
Forward-Looking Statements
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
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. Today, we €™re one of the world €™s largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 460 crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers and the world €™s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, chemical and energy uses. Learn more at www.adm.com.
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Contact
Archer Daniels Midland Company
Media Relations
Jackie Anderson, 312-634-8484
media@adm.com
