January 11, 2011
Archer Daniels Midland acquires Alimenta
Press Release
Archer Daniels Midland Company has announced that it has acquired all of the outstanding capital stock of Alimenta Inc., from Alimenta S.A., an international trading company based in Geneva, Switzerland.
Alimenta is ADM's 50% partner in Golden Peanut Company, LLC. As a result of this transaction, ADM now controls 100% of Golden Peanut Company.
Headquartered in Alpharetta, Georgia, US, Golden Peanut Company is the largest US handler, processor, and exporter of peanuts, peanut oil, and peanut-derived ingredients. Golden Peanut Company is also the leading peanut sheller and leading peanut oil refiner in the US. The company's operations include seven handling facilities located in peanut-producing regions of the US and one facility in Argentina.
"Golden Peanut Company has a strong and diverse customer base," said Steve Mills, ADM senior executive vice president, Performance and Growth. "With well-positioned assets, strong customer relationships and an experienced management team, we believe Golden Peanut Company will realize profitable growth in the future. In addition to generating solid financial returns, this acquisition will also create synergies with current ADM operations."
As part of the transaction, ADM has agreed to not use the Alimenta name. Other terms of the agreement are not being disclosed.