Golden Peanut Co. announces acquisition, name change
Golden Peanut Co. LLC, Alpharetta, GA, a subsidiary of Archer Daniels Midland Co. (ADM), has acquired the processing facilities and certain assets of the Harrell Nut Co., a Camilla, GA-based pecan sheller and processor. To reflect the continuing expansion of its product portfolio, Golden Peanut also announced that it is changing its name to Golden Peanut and Tree Nuts.
“By expanding our product portfolio, we are improving our ability to serve our customers, while taking another step in our efforts to reduce earnings volatility,” says Kris Lutt, president, Golden Peanut and Tree Nuts. “Our diversification into tree nuts began earlier this year, when we acquired 50 percent ownership of South African Pecans. We’re taking another step today. The acquisition of Harrell Nut Co. moves us into the U.S. pecan market—a market that we expect will see increasing consumer interest in the coming years.”
Harrell Nut Co. is a major domestic pecan processor, with facilities in Camilla; El Paso, TX; and Monticello, FL. It serves both domestic and international markets.
“In recent years, we’ve seen the demand for healthier, more convenient foods drive up nut consumption,” Lutt adds. “U.S. pecan demand has grown almost 40 percent over the last decade. Now, we are moving to take advantage of continuing growth. The Harrell family has built a great business, and we look forward to working with them and their team to make it even stronger as part of Golden Peanut and Tree Nuts.”
In addition to its name change, Golden Peanut and Tree Nuts is introducing a new logo that reflects its expanded product offerings. “Our new name and logo reflect our commitment to growing and diversifying our business,” Lutt continues. “Peanuts will remain a core part of our business. We are building on that core, enhancing the range of products and solutions we can provide to our customers.”