Archer Daniels Midland Company announced today that it has reached an agreement to sell its oilseeds operations in Bolivia to Inversiones Piuranas S.A.
The sale encompasses ADM’s processing facility in Santa Cruz de la Sierra, as well as nine grain silos and ADM’s Bolivian distribution business.
“We regularly review our portfolio, and the sale of our Bolivian Oilseeds operations is part of our long-term growth and transformation strategy,” said Greg Morris, president of ADM’s Oilseeds Processing business unit.
ADM’s oilseeds operations in Bolivia process soybeans and sunflower into oils and protein meal. ADM has approximately 400 employees in Bolivia.
The transaction, which is subject to regulatory approvals, is expected to close in the first half of 2018; until then, ADM will continue to operate its oilseeds business in Bolivia.
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.