Archer Daniels Midland Co. (ADM), Chicago, recently announced it’s purchasing a controlling stake in Harvest Innovations, a producer of minimally processed, expeller-pressed soy proteins, oils and gluten-free ingredients.
“More and more consumers are looking for foods that are gluten-free, that aren’t genetically modified, and that are healthy and organic, and ADM is perfectly positioned to meet those needs,” says Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit. “We were already the provider of choice for a wide range of healthy, clean-label ingredients, and in the last year, we’ve significantly expanded our product portfolio. Today’s addition perfectly complements our existing ingredient businesses and offers customers a full-service, one-stop shop for their ingredient needs.”
Harvest Innovations uses expeller pressing to turn grains, legumes and oilseeds into minimally-processed, non-GMO, organic, gluten-free ingredients. Products range from non-GMO soy chips, expeller-pressed soy flour and textured vegetable protein to the industry’s only organic soy crisps to gluten-free flours and pastas.
Harvest Innovations is based in Indianola, IA, and has a second processing facility in Deshler, OH.
“This is a great opportunity for the Harvest business, the Harvest team and Harvest customers,” says Barry Nadler, president and co-owner of Harvest Innovations. “We’re excited to join our resources and expertise with ADM’s to grow our business, and to serve more customers with more products, more innovation and more great customer service.”
ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming months.