Global agricultural processor, Archer Daniels Midlands Company (ADM) is to purchase the remaining 50% of Gleadell Agriculture Ltd, including Gleadell’s wholly owned subsidiary Dunns Ltd. CPM reports.
A major UK grain trader, Gleadell is currently jointly owned by ADM and French co-operative InVivo. However, the acquisition of the remaining stake of the company will see ADM merge with Gleadell and Dunns as well as ADM’s other businesses to create ADM Agriculture Ltd.
Strategic growth
In a statement, ADM said the transaction will increase the firm’s origination, storage and destination marketing capabilities in the UK, allowing it to serve as the trading partner of choice for even more farmers and customers.
“With significant storage and processing capability and a longstanding reputation for being a safe and trusted trading partner, Gleadell and Dunns will be great additions to our business in the UK,” said Gary McGuigan, ADM’s president of Global Trade.
“We are excited to expand our capabilities, not only to continue our strategic growth, but also to support our farmers and our customers as they work to address fast-growing consumer demand.” The deal, which is subject to regulatory review, is expected to close during the first quarter of 2019.
