Saturday, January 12, 2019

ADM to acquire citrus ingredients maker | 2019-01-11 - Food Business News

CHICAGO — Archer Daniels Midland Co. has agreed to acquire Florida Chemical Co., which specializes in citrus-based flavors and fragrances. Florida Chemical Co., a division of Flotek Industries and based in Winter Haven, Fla., offers citrus flavor materials and essential oils as well as flavor enhancers for grapefruit and other citrus. The company’s citrus flavor modifiers are designed to improve the quality and taste of food and beverages sweetened with natural or artificial sweeteners. The transaction is expected to close in the first quarter of 2019.

“ADM is already a leader in natural flavors for food and beverages, offering a wide variety of high-value products and solutions in areas such as vanilla and mint, and this acquisition will place us in a leadership position for citrus flavors as well,” said Vince Macciocchi, president of ADM’s Nutrition business unit. “Citrus is one of the fastest-growing flavor categories, and the single most important taste profile for beverages, and no one in North America does citrus better than Florida Chemical Co.”

Florida Chemical Co., founded in 1942, supplies the flavor, fragrance and consumer products markets. The planned acquisition marks another flavor expansion for ADM.

“With the acquisition of WILD in 2014, ADM began the journey to become the world’s leading nutrition company,” Mr. Macciocchi said.  “Starting with the foundation of a leading global flavor company and our specialty ingredients portfolio, we’ve vastly expanded our capabilities with additions like the savory flavors of Eatem Foods, the plant proteins from Harvest Innovations, probiotics from Biopolis and Protexin, and Rodelle’s premium vanilla ingredients.”



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