Agribusiness giant Archer Daniels Midland Company (NYSE:ADM) has consolidated its position in peanut sheller and peanut oil refiner Golden Peanut through acquiring Alimenta’s 50% interest in the company.
Switzerland based Alimenta and Archer Daniels previously held 50% each in Golden Peanut, which is the largest handler, processor and exporter of peanuts and peanut oil in the US.
Terms of the agreement were not disclosed.
"Golden Peanut Company has a strong and diverse customer base," said Steve Mills, ADM senior executive vice president, Performance and Growth.
"With well-positioned assets, strong customer relationships and an experienced management team, we believe Golden Peanut Company will realize profitable growth in the future. In addition to generating solid financial returns, this acquisition will also create synergies with current ADM operations."
Golden Peanut’s operations include seven handling facilities located in peanut-producing regions of the United States and one facility in Argentina.