Archer Daniels Midland Company (ADM) plans to buy Eatem Foods Company, a developer and producer of premium traditional, natural and organic savory flavor 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 Flavors and Specialty Ingredients business unit.
“Eatem’s products and capabilities align exceptionally well with consumer preferences for healthier foods, clean labels, ethnic cuisines and natural flavors.”
“And, their expertise in flavors complements WILD’s strengths. This exciting addition for ADM will allow us to broaden our capabilities in the important foodservice and private brand channels.”
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-US$40 million range.
ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming weeks.
