ADM completes acquisition of WILD Flavors
Posted: 2 October 2014 | ADM | No comments yet
WILD Flavors and Specialty Ingredients business unit begins reporting Jan. 1, 2015…
Archer Daniels Midland Company (NYSE: ADM) today announced that it has completed the acquisition of WILD Flavors GmbH.
“One of the most important ways we are working to increase returns and reduce earnings volatility is through the growth of our specialty ingredient offerings,” said ADM Chairman and CEO Patricia Woertz. “These high-value products provide the opportunity for increased margins and strong sales aligned with global consumer trends. WILD Flavors is the latest in a series of strategic expansions in specialty ingredients, including our new Brazilian protein specialties complex and our Chinese soluble-fiber facility.”
ADM will form a new business unit, WILD Flavors and Specialty Ingredients, which will include the WILD business as well as the following ADM product lines:
- Specialty proteins (including isolated soy proteins, textured vegetable protein, soy protein concentrates, and soy flour & grits)
- Edible beans
- Natural health and nutrition (natural-source vitamin E, plant sterols, soy isoflavones and Omega-3 DHA)
- Soluble fiber
The new business unit will be a reportable segment beginning Jan. 1, 2015.
Greg Morris will be president of the WILD Flavors and Specialty Ingredients business unit. He most recently was ADM’s president, North American Oilseeds Processing, where in addition to overseeing more than two dozen oilseed crushing plants, he led the creation of the company’s Foods & Wellness business, developing a high-margin, highly specialized portfolio of innovative products.
WILD North American Chief Operating Officer Vince Macciocchi has been named global president, WILD Flavors. In addition to leading the WILD Flavors business worldwide, Macciocchi will be responsible for designing the new business unit’s go-to-market strategy and will play a key role in several ADM initiatives, including the company’s innovation and customer excellence efforts.
Mike Ponder, WILD’s chief executive officer, recently announced his retirement and will join former majority owner Dr. Hans-Peter Wild on an advisory board for the business.
“Greg and Vince are responsible for ensuring that WILD Flavors’ recipe for success continues,” Woertz added. “Dr. Wild has built a great company, and we intend to support WILD’s innovative, entrepreneurial culture. Between our global networks, tremendous innovation capabilities, great teams, and extensive product lines from both ADM and WILD, we now have one of the world’s leading flavors and specialty ingredient companies. We are excited about offering complete food and flavor solutions to our customers around the globe.”