ADM said it intends to complete the transaction by the end of January 2024 Reproduction/Facebook
American company Archer Daniels Midland (ADM) has announced the acquisition of FDL, a UK-based company that develops flavor systems and functional ingredients.
In a note, ADM said it intends to complete the transaction by the end of January 2024 and the acquisition is subject to customary closing conditions. Contract values were not disclosed.
ADM highlighted that FDL expects sales of US$120 million by 2023 and has already developed more than 10,000 patented flavor formulas.
“Continued investments to expand our flavor portfolio drive strategic work to build global leadership in nutrition,” Calvin McEvoy, ADM's president of global flavors, said in a statement. “FDL's innovative and agile formulation expertise, deep application expertise and strong customer base are a great addition to ADM's global flavor capabilities,” he added.
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