US food processing giant Archer Daniels Midland has announced it has signed an agreement to purchase the remaining 50 percent stake of UK-based Gleadell Agriculture.
Archer Daniels Midland (ADM), an American global food processing and commodities trading corporation, headquartered in Chicago, Illinois, will increase its origination, storage and destination marketing capabilities in the UK.
In a statement, the company, which has over 32,000 employees, says the move will allow it to serve as the 'trading partner of choice for even more farmers and customers'.
Established in 1880, Gleadell Agriculture Ltd is a supplier of combinable crops to UK millers, feed compounders and other consumers, and a major exporter of grains, oilseeds and pulses to EU markets and further afield.
The company sources crops directly from UK farmers and supplies certified seed and fertilisers. Key assets include port storage and ship loading operations along with extensive pulse and agricultural seed processing and storage.
“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.
