(Reuters) – The European Commission said on Tuesday that it had approved the acquisition of Belgian vegetable oil distributor AOR NV by U.S. grain trader Archer Daniel Midland (ADM) (ADM.N).
The Commission, which rules on antitrust issues in the European Union, said in a statement that it had concluded that the proposed takeover did not raise competition concerns because it did not have a huge impact on market share and because there were a number of strong players in a market with overcapacity.
Chicago-based ADM did not disclose the cost of the purchase, an acquisition aimed at expanding into higher-margin products including food-grade oils and food ingredients.
The AOR acquisition, subject to regulatory approvals, will expand ADM’s reach in Europe, particularly Belgium, the Netherlands and Luxembourg, and in export markets via AOR’s facility at the Port of Antwerp.
(Reporting By Philip Blenkinsop)
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
