U.S. agricultural trader Archer Daniels Midland Co on Monday denied a report that it was bidding on Unilever Plc’s spreads business, which includes Flora and Stork margarines.
British newspaper the Times had reported that ADM was planning to make a move for part of the Unilever unit. ADM said in a statement that it was not submitting a bid.
ADM and its rivals have been investing in higher-margin businesses such as food ingredients and natural flavorings to prop up slumping results from core grain trading and processing operations. Strong margins in sweeteners and starches helped prop up ADM’s second-quarter earnings.
Shares of ADM were up 0.4 percent at $42.67 in midday trading.
By Mark Weinraub
Source: Reuters
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
