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.”