Archer Daniels Midland Company announced today that it has reached an agreement to purchase a controlling interest in Industries Centers, an Israeli company specializing in the import and distribution of agricultural feed products.
“With this investment, we are continuing to expand and enhance our core value chain, including our ability to deliver direct to the customer,” said Joe Taets, president of ADM’s Agricultural Services business unit. “Industries Centers offers an entry point into a strong, established Israeli market. We have worked with them in the past to help us import our own products into Israel, and we know them as an experienced, capable partner.”
Industries Centers, founded in 1993, trades corn byproducts and other grain products. It has offices in the Tel Aviv area, and operates a 45,000 MT storage facility strategically located at the Port of Ashdod. The company has a significant and diversified customer base within Israel. It is privately owned.
“This is a great opportunity for us to reach new customers with a wide array of products, from soybean meal to grains to feed ingredients,” Taets continued. “It also represents a further expansion of our destination marketing capabilities, which remain a strategic priority as we work to enhance shareholder returns by extending our value chain to the end customer.”
The transaction is subject to regulatory approval in Israel. ADM anticipates completing the deal in the coming months.
Source: ADM
General Mills has sold its US yogurt business to French dairy giant Lactalis, officially exiting the US yogurt market. The move marks a strategic pivot for the US food giant, which aims to sharpen its focus on higher-growth categories like snacks, pet food, and ice cream.
The US-based food producer entered into a restructuring support agreement with a group of lenders who hold a portion of its term loan debt. The agreement outlines a plan to run a “going-concern” sale, allowing the company to continue operations during the process.
Roelofs joined Refresco in 2007 and oversaw major expansion. The company now operates 75 manufacturing sites in 13 countries and employs over 14,000 people. During his tenure, Refresco grew from a regional player to a global leader in beverage solutions.
