ADM acquires WILD Flavors
Archer Daniels Midland Co. (ADM), a Chicago-based food ingredients provider, said it completed the acquisition of WILD Flavors GmbH, a global supplier of natural ingredients. ADM will form a new business unit, WILD Flavors and Specialty Ingredients, which will include the WILD Flavors business and the following ADM product lines: specialty proteins (including isolated soy proteins, textured vegetable protein, soy protein concentrates and soy flour and grits), emulsifiers, edible beans, natural health and nutrition (natural-source vitamin E, plant sterols, soy isoflavones and omega-3 DHA), soluble fiber, hydrocolloids and polyols. The new unit will be a reportable segment beginning Jan. 1, 2015.
“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 Patricia Woertz, ADM chairman and CEO. “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.”
Greg Morris will be president of the WILD Flavors and Specialty Ingredients business unit, ADM said. 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 division, developing a high-margin, highly specialized portfolio of innovative products.
Meanwhile, Vince Macciocchi, WILD Flavors’ North American chief operating officer, was named global president, WILD Flavors, ADM explained. 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 Flavors’ CEO, recently announced his retirement and will join former majority owner Dr. Hans-Peter Wild on an advisory board for the business, ADM stated.
“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.”