Archer Daniels Midland Company announced today that it has acquired full ownership of Amazon Flavors, a leading Brazilian manufacturer of natural extracts, emulsions and compounds. ADM had previously owned a 40 percent equity stake in Amazon.
“Brazil is a key market as we continue to grow our ingredient sales around the globe,” said Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit. “Brazil is the largest food and beverage market in South America, and we look forward to working with the Amazon Flavors team to ensure that we are the go-to source for Brazilian food and beverage customers.”
With production facilities in Manaus and product development and application laboratories in Manaus and São Paulo, Amazon Flavors creates natural extracts derived from the guarana plant and açai berries, as well as cola, energy and other compounds for the Brazilian beverage market. The company has about 60 employees.
“WILD Flavors and Specialty Ingredients is continuing to deliver shareholder value through strategic expansions and additions to our product portfolio,” added Macciocchi. “From our majority stake in Harvest Innovations, to our Eatem foods acquisition, to the addition of SUPERB™ to our protein and fiber ingredient portfolio, we are executing on our plan to build global ingredient and flavor capabilities and offer our customers a full slate of customized turnkey solutions. We are excited about these expansions, and we continue to look for strategic opportunities to reach new markets and offer new solutions for our customers.”
“This is yet another sign of our commitment to grow our already substantial business in Brazil,” said Scott Fredericksen, president, ADM South America. “From the expansion of our ports in Santos and Barcarena, to the construction of our new protein facility in Campo Grande, to this enhanced presence in the Brazilian flavor industry, ADM continues to invest in Brazil.”
Local industry stakeholders under Food Drink Ireland (FDI) have called for targeted support measures in the sector that will help businesses stay buoyant during the transitional period.
Diageo has announced that the company’s CFO Kathryn Mikells will leave the business later this year and will be replaced by Lavanya Chandrashekar.
Schlosberg – who has resigned his positions as president, CFO, COO and secretary of Monster Beverage – will serve as co-CEO alongside Rodney C. Sacks.