ADM acquires 100% of Golden Peanut Co.
January 4, 2011
by Keith Nunes
DECATUR, ILL. — The Archer Daniels Midland Co. has acquired the outstanding capital stock of Alimenta (USA), Inc. from Alimenta S.A., a trading company based in Geneva. As a result of the transaction, ADM now controls 100% of the Golden Peanut Company L.L.C., Alpharetta, Ga. Financial terms of the transaction were not disclosed.
The Golden Peanut Co. is a handler, processor and exporter of peanuts, peanut oil and peanut-derived ingredients. The scope of the company’s operations includes seven handling facilities and one facility in Argentina.
“Golden Peanut Co. has a strong and diverse customer base,” said Steve Mills, senior executive vice-president of performance and growth for ADM. “With well-positioned assets, strong customer relationships and an experienced management team, we believe Golden Peanut Co. 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 said it has agreed to not use the Alimenta name.