ADM to acquire Eatem Foods Co.
Archer Daniels Midland Co. (ADM), Chicago, has announced it will purchase Eatem Foods Co., Vineland, NJ-based developer and producer of premium traditional, natural and organic savory flavor systems. It anticipates closing the transaction, which is subject to regulatory approval, in the coming weeks.
“We’re accelerating our evolution from an ingredient supplier to a complete solutions provider by systematically building and acquiring capabilities to meet a wide range of customer needs,” says Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit. “Last year’s addition of Specialty Commodities Inc. added capabilities in ancient grains and expanded our nut and seed offering. Just a few weeks ago, we announced our new, state-of-the-art flavor lab and customer innovation center in Cranbury, NJ. And with today’s announcement, we’ll be able to even better serve our customers and the growing market for savory flavor blends with Eatem’s renowned combination of culinary expertise and technical know-how.
“Eatem’s products and capabilities align exceptionally well with consumer preferences for healthier foods, clean labels, ethnic cuisines and natural flavors. And their expertise in flavors complements WILD’s strengths. This exciting addition for ADM will allow us to broaden our capabilities in the important foodservice and private brand channels.”
Eatem, which was founded in 1983, is privately held and has had annual revenues in the mid-$40 million range, according to ADM.