ADM strengthens global footprint with acquisition of Brazilian oilseeds facilities
Addition of Algar Agro plants in Uberlândia and Porto Franco enhances ADM's position in important Brazilian meal and bottled oil markets
Archer Daniels Midland Company has announced that it has reached an agreement to purchase certain assets of Brazil-based Algar Agro, including oilseeds processing facilities in Uberlândia in the state of Minas Gerais, and Porto Franco in Maranhão.
“ADM is already the most diversified oilseeds processor in the world, and now we are once more expanding our capabilities to help meet growing global demand,” said Greg Morris, senior vice president and president of ADM’s Oilseeds business. “The acquisition of Algar Agro’s crush and refinery plants in Minas Gerais and Maranhão strengthens our position in key Brazilian demand regions, and continues our strategic global growth. We’ve recently launched our new oilseeds joint venture with Cargill in Egypt, and we have completed several enhancements to our European and North American processing operations. With the addition of these new plants in Brazil, we are further enhancing and strengthening our global network at a time when both the near- and long-term outlook for global meal demand continues to be strong. We’re excited about this bolt-on acquisition, and about all of the actions we are taking to deliver on our strategic plan to enhance shareholder value.”