ADM to buy Swiss flavouring maker

Agribusiness giant ADM is to buy Swiss flavouring company Wild Flavors for about $US3 billion. Source: AAP

AGRIBUSINESS giant ADM will pay about $US3 billion ($A3.25 billion) to buy the privately held Swiss company Wild Flavors, which supplies natural ingredients to the food and beverage industry.

THE all-cash deal will total about $US3.13 billion counting debt, or 2.3 billion euros.

Archer Daniels Midland Co processes corn, soybeans and other crops to make everything from animal feed to ethanol. Its food and wellness group also provides products for the beverage, meat, snack and bakery markets.The Decatur company said on Monday that the acquisition will allow it to better serve the evolving needs of its customers.Wild Flavors sells full flavour and ingredient products, as well as fruit juice concentrates and ingredients like natural flavours and extracts.It has production sites in Europe, the United States, Asia and South America. Its estimated revenue for this year is about $US1.36 billion, or 1 billion euros.Wild is the last name of company chairman and owner Dr. Hans-Peter Wild, whose father founded the business. ADM will pay the purchase price to the owner and funds tied to Kohlberg Kravis Roberts & Co.The deal is expected to close by the end of the year.Shares of ADM closed at $45.77 last week, a new high point for the year and they are within striking distance of a new record, set just as the recession began, of $48.95.Originally published as ADM to buy Swiss flavouring maker

Anda sedang membaca artikel tentang

ADM to buy Swiss flavouring maker

Dengan url

http://petanidollarindo.blogspot.com/2014/07/adm-to-buy-swiss-flavouring-maker.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

ADM to buy Swiss flavouring maker

namun jangan lupa untuk meletakkan link

ADM to buy Swiss flavouring maker

sebagai sumbernya