ADM to Acquire Specialty Commodities Inc.

Oct 15, 2014 at 10:49 AM CST + 1
Archer Daniels Midland Company announced an agreement to purchase Specialty Commodities Inc., a leading originator, processor and distributor of healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains, for $170 million, subject to post-closing adjustments. "One of the ways we are improving returns and reducing the volatility of our earnings is through the expansion of our specialty ingredients portfolio," said ADM Chairman and CEO Patricia Woertz. "One milestone in the ongoing process was the addition of WILD Flavors; the addition of Specialty Commodities Inc. is another step." 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 is majority owned by Goldner Hawn Johnson & Morrison. When the transaction closes, SCI will become part of ADM’s new WILD Flavors and Specialty Ingredients business unit. ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming weeks.

Oct 15, 2014 at 10:49 AM CST

+ 1

Archer Daniels Midland Company announced an agreement to purchase Specialty Commodities Inc., a leading originator, processor and distributor of healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains, for $170 million, subject to post-closing adjustments.

"One of the ways we are improving returns and reducing the volatility of our earnings is through the expansion of our specialty ingredients portfolio," said ADM Chairman and CEO Patricia Woertz. "One milestone in the ongoing process was the addition of WILD Flavors; the addition of Specialty Commodities Inc. is another step."

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 is majority owned by Goldner Hawn Johnson & Morrison.

When the transaction closes, SCI will become part of ADM’s new WILD Flavors and Specialty Ingredients business unit.

ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming weeks.