Archer-Daniels-Midland Co
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Consumer Staples : Food Products | Mid Cap Value
Company profile

Archer-Daniels-Midland Company owns and operates grain elevator and transportation network to procure, store, clean, and transport agricultural raw materials, such as oilseeds, corn, wheat, milo, oats, and barley. The Company’s operations are organized into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. The Ag Services and Oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials. The Carbohydrate Solutions segment converts corn and wheat into products and ingredients used in the food and beverage industry, including sweeteners, corn and wheat starches, syrup, wheat flour and dextrose. The Nutrition segment engages in the manufacturing, sale, and distribution of various ingredients and solutions, including plant-based proteins, flavor systems, natural colors, emulsifiers, soluble fiber, enzymes, and other specialty food and feed ingredients.

Postmarket

Last Trade
Delayed
$0.00
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
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Market Hours

Closing Price
$71.00
Day's Change
-0.27 (-0.38%)
Bid
--
Ask
--
B/A Size
--
Day's High
72.12
Day's Low
71.00
Volume
(Above Average)
Volume:
2,638,495

10-day average volume:
2,258,674
2,638,495

ADM Completes Acquisition of Sojaprotein, Strengthening Plant Based-Protein Capabilities

8:00 am ET November 29, 2021 (BusinessWire) Print

ADM (NYSE: ADM), a global leader in nutrition and agricultural origination and processing, announced today that it has completed its acquisition of Sojaprotein, a leading European provider of non-GMO soy ingredients. The addition represents a significant expansion of ADM's global alternative protein capabilities and its ability to meet growing demand for plant-based foods and beverages.

"ADM has been at the forefront of pioneering innovation in alternative proteins for more than seven decades, and we continue to invest to expand our capabilities to meet fast-growing demand for new protein solutions as we grow our nutrition business worldwide," said Vince Macciocchi, president of ADM's Nutrition business. "We welcome our new Sojaprotein colleagues to ADM, and we look forward to working with them. Together, ADM and Sojaprotein are perfectly positioned for continued growth as we work to meet the needs of European consumers who are looking for locally-sourced, non-GMO plant-based ingredients in their food and beverages."

Established in 1977, Serbia-based Sojaprotein exports into 65 countries, offering a wide range of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments. The company achieved more than $100 million in sales in 2020.

The addition of Sojaprotein to ADM's portfolio is the latest significant investment as the company continues to grow in alternative proteins; other additions include the company's soy protein complex in Campo Grande, Mato Grosso do Sul, Brazil; its new pea protein plant in Enderlin, North Dakota; its PlantPlus Foods joint venture; and partnerships with innovative startups like Air Protein.

About ADM

At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We're a global leader in human and animal nutrition and the world's premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.

Source: Corporate Release

View source version on businesswire.com: https://www.businesswire.com/news/home/20211129005398/en/

SOURCE: ADM

ADM Media Relations 
Jackie Anderson
media@adm.com 
312-634-8484
comtex tracking

COMTEX_397946745/1006/2021-11-29T08:00:04

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