- State-of-the-art plant adds critical processing capacity, positions company to take advantage of substantial growth in global demand for specialty nuts and seeds
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it has
acquired tree nut and seed processing assets and operations in Modesto,
California, from California Gold Almonds, adding critical processing
capacity on top of ADM’s existing West Coast nut operations in Lodi and
Stockton. Under the terms of the deal, ADM is acquiring the lease to the
brand-new Modesto processing plant, and taking ownership of
assets—including processing equipment—at the facility.
“This is a great addition that will help us continue to grow sales in
our business,” said Vince Macciocchi, president of ADM’s WILD Flavors
and Specialty Ingredients business unit. “Global demand for almonds,
macadamias, pumpkin seeds, cashews and other healthy, on-trend nuts and
seeds is growing, and production is projected to continue rising. Our
Specialty Commodities business is a premier global supplier of healthy
ingredients, including nuts, fruits, seeds, legumes and ancient grains;
our customers look to us to make sure they can meet growing consumer
demand, and we are committed to delivering for them. This acquisition
helps ensure that we stay ahead of consumer demand trends, and continue
to meet customer needs in a growing market.”
The Modesto plant is capable of steam pasteurizing, roasting, dicing,
slicing, milling and packaging. Like ADM’s plants in Lodi and Stockton,
the facility can process a range of nuts, including almonds, cashews,
Brazil nuts, pecans, pistachios, hazelnuts, walnuts and macadamias.
Forward-Looking Statements
Some of the above statements constitute forward-looking statements.
ADM’s filings with the SEC provide detailed information on such
statements and risks, and should be consulted along with this release.
To the extent permitted under applicable law, ADM assumes no obligation
to update any forward-looking statements.
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve the vital
needs of a growing world. Today, we’re one of the world’s largest
agricultural processors and food ingredient providers, with more than
33,000 employees serving customers in more than 140 countries. With a
global value chain that includes more than 460 crop procurement
locations, 300 ingredient manufacturing facilities, 40 innovation
centers and the world’s premier crop transportation network, we connect
the harvest to the home, making products for food, animal feed, chemical
and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Media Relations
Jackie Anderson, 312-634-8484
media@adm.com