WILD Flavors and Specialty Ingredients business unit begins reporting Jan. 1, 2015
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that it has
completed the acquisition of WILD Flavors GmbH.
“One of the most important ways we are working to increase returns and
reduce earnings volatility is through the growth of our specialty
ingredient offerings,” said ADM Chairman and CEO Patricia Woertz. “These
high-value products provide the opportunity for increased margins and
strong sales aligned with global consumer trends. WILD Flavors is the
latest in a series of strategic expansions in specialty ingredients,
including our new Brazilian protein specialties complex and our Chinese
soluble-fiber facility.”
ADM will form a new business unit, WILD Flavors and Specialty
Ingredients, which will include the WILD business as well as the
following ADM product lines:
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Specialty proteins (including isolated soy proteins, textured
vegetable protein, soy protein concentrates, and soy flour & grits)
-
Emulsifiers
-
Edible beans
-
Natural health and nutrition (natural-source vitamin E, plant sterols,
soy isoflavones and Omega-3 DHA)
-
Soluble fiber
-
Polyols
-
Hydrocolloids
The new business unit will be a reportable segment beginning Jan. 1,
2015.
Greg Morris will be president of the WILD Flavors and Specialty
Ingredients business unit. He most recently was ADM’s president, North
American Oilseeds Processing, where in addition to overseeing more than
two dozen oilseed crushing plants, he led the creation of the company’s
Foods & Wellness business, developing a high-margin, highly specialized
portfolio of innovative products.
WILD North American Chief Operating Officer Vince Macciocchi has been
named global president, WILD Flavors. In addition to leading the WILD
Flavors business worldwide, Macciocchi will be responsible for designing
the new business unit’s go-to-market strategy and will play a key role
in several ADM initiatives, including the company’s innovation and
customer excellence efforts.
Mike Ponder, WILD’s chief executive officer, recently announced his
retirement and will join former majority owner Dr. Hans-Peter Wild on an
advisory board for the business.
“Greg and Vince are responsible for ensuring that WILD Flavors’ recipe
for success continues,” Woertz added. “Dr. Wild has built a great
company, and we intend to support WILD’s innovative, entrepreneurial
culture. Between our global networks, tremendous innovation
capabilities, great teams, and extensive product lines from both ADM and
WILD, we now have one of the world’s leading flavors and specialty
ingredient companies. We are excited about offering complete food and
flavor solutions to our customers around the globe.”
About Morris
Greg Morris will be president of ADM’s WILD Flavors and Specialty
Ingredients business unit. Previously, he served as ADM’s president,
North American Oilseeds Processing. In that role, he oversaw more than
two dozen crushing plants, Southern Cellulose Products, Inc., and the
company’s Foods & Wellness group.
Morris joined ADM in 1995 and has held several management roles across
the organization. He holds a bachelor's degree in finance from Illinois
State University in Normal, Illinois, and an MBA from Drake University
in Des Moines, Iowa.
About Macciocchi
Vince Macciocchi is ADM’s global president, WILD Flavors. In this role,
he is responsible for the WILD business within ADM’s new WILD Flavors
and Specialty Ingredients business unit. He is also responsible for the
new business unit’s go-to-market strategy. Macciocchi has more than a
quarter century of experience in the ingredients industry. He came to
WILD as its North American chief operating officer in 2012. Prior to
that, he spent more than a decade at Givaudan flavors. He has also held
positions at American-Maize Products Company, Roquette America and
IngredientsNet.com.
Macciocchi holds a bachelor’s degree in economics from Eastern Illinois
University in Charleston, Illinois, and an MBA from North Central
College in Naperville, Illinois.
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve vital needs.
Today, 31,000 ADM employees around the globe convert oilseeds, corn,
wheat and cocoa into products for food, animal feed, industrial and
energy uses. With more than 270 processing plants, 470 crop procurement
facilities, and the world’s premier crop transportation network, ADM
helps connect the harvest to the home in more than 140 countries. For
more information about ADM and its products, visit www.adm.com.
About WILD Flavors
ADM’s WILD Flavors is one of the world’s leading suppliers of natural
ingredients to the food and beverage industry. Its management offices
with production sites are located in Heidelberg-Eppelheim, Germany; and
Erlanger, Kentucky. Thirteen further production sites are located in
Europe, North America, Asia, South America and the Middle East.
The WILD Flavors product portfolio includes full flavor and ingredient
solutions, known as flavor systems, fruit juice concentrates and blends
as well as other food and beverage ingredients including natural flavors
and extracts, mint oils and flavors, colors from natural sources,
sweetening systems, seasonings, specialty ingredients, taste modifiers,
and fermentation technologies. WILD Flavors provides the global beverage
and dairy market as well as the baked-goods, confectionery and ice cream
industry with its products. In the USA and Canada, WILD Flavors is a
supplier for the cereals, snacks, and processed food markets as well.
For more information about WILD, please visit www.wildflavors.com.
Archer Daniels Midland Company
Media Relations
Jackie Anderson, 217-424-5413
media@adm.com