ADM to acquire Eatem7 Oct 2015
ADM is to acquire Eatem Foods Company, a developer and producer of traditional, natural and organic savoury flavour systems. “We’re accelerating our evolution from an ingredient supplier to a complete solutions provider by systematically building and acquiring capabilities to meet a wide range of customer needs,” said Vince Macciocchi, president of ADM’s WILD Flavours and […]
“We’re accelerating our evolution from an ingredient supplier to a complete solutions provider by systematically building and acquiring capabilities to meet a wide range of customer needs,” said Vince Macciocchi, president of ADM’s WILD Flavours and Specialty Ingredients business unit. “Last year’s addition of Specialty Commodities Inc. added capabilities in ancient grains and expanded our nut and seed offering. Just a few weeks ago, we announced our new, state-of-the-art flavour lab and customer innovation center in Cranbury, New Jersey. And with today’s announcement, we’ll be able to even better serve our customers and the growing market for savoury flavour blends with Eatem’s renowned combination of culinary expertise and technical know-how.”
“Eatem’s products and capabilities align exceptionally well with consumer preferences for healthier foods, clean labels, ethnic cuisines and natural flavours,” added Macciocchi. “And, their expertise in flavours complements WILD’s strengths. This exciting addition for ADM will allow us to broaden our capabilities in the important foodservice and private brand channels. ADM’s WILD Flavours and Specialty Ingredients business is following through on its plan to grow profitably: broadening the product portfolio, building the brand, enhancing structural capacity and expanding geographically. This is a perfect example of how ADM is executing on our plan to deliver value for our shareholders by targeting—and delivering on—profitable bolt-on growth opportunities.”
Eatem, which was founded in 1983, is based in Vineland, New Jersey, and is privately held. The company’s annual revenues have been in the mid-$40 million range.
“We are excited that Eatem will become part of the ADM team,” said Eatem CEO Ron Savelli. “Not only do Eatem’s savoury flavour systems fit well alongside ADM’s existing portfolio, but our people also share a focus on quality and service that will benefit suppliers and customers.”
ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming weeks.
Are you a supplier
Here's what we can do for you
- Generate quality leads for your business
- Stay visible for 365 days of the year
- Receive product inquiries and respond to meeting requests directly
- Improve company online presence through Search Engine Optimisation