ADM has agreed to purchase a controlling stake in Harvest Innovations, a manufacturer of expeller-pressed, organic, and gluten-free ingredients.
Photo © iStockphoto.com/Diane Labombarbe
In a step toward expanding its plant protein and gluten-free ingredients portfolio, Archer Daniels Midland (ADM; Chicago) announced yesterday it has agreed to buy a controlling stake in Harvest Innovations (Indianola, IA), a manufacturer of “minimally processed, expeller-pressed soy proteins, oils, and gluten-free ingredients.”
Harvest products include textured vegetable protein, non-GMO soy chips, expeller-pressed soy flour, organic soy crisps, and gluten-free flours and pasta made from grains, legumes, and oilseeds.
ADM describes its purchase of Harvest as a move toward creating the “industry’s broadest, most vertically integrated soy protein company, and only fully integrated supply chain-from origination to final ingredients-for gluten-free solutions.” Although the transaction is still subject to regulatory approval, ADM expects it to close in the coming months.
“More and more consumers are looking for foods that are gluten-free, that aren’t genetically modified, and that are healthy and organic, and ADM is perfectly positioned to meet those needs,” says Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit. “Today’s addition perfectly complements our existing ingredient businesses and offers customers a full-service, one-stop shop for their ingredient needs.”
Barry Nadler, president and co-owner of Harvest Innovations, also describes the transaction as a “great opportunity” for Harvest.
“We’re excited to join our resources and expertise with ADM’s to grow our business, and to serve more customers with more products, more innovation, and more great customer service,” says Nadler.
Read more:
ADM Launches New Soy-Fiber Blend, Plus Looking into Pea Protein, SupplySide West Report
Are Dietary Supplements Going Gluten-Free?
Pea Protein Is Coming Up Strong
Michael Crane
Associate Editor
Nutritional Outlook Magazine
michael.crane@ubm.com
Rousselot to showcase new collagen peptide research and targeted solutions at Vitafoods Europe 2024
April 25th 2024The company will be highlighting new research that demonstrates the ability of its Peptan collagen peptide brand to support sleep quality, reduce gastrointestinal discomfort, and enhance skin health, including density, hydration, and elasticity.