Archer Daniels Midland Acquires WILD Flavors - Quick Facts

(RTTNews) - Grain processor Archer Daniels Midland Co. (ADM) reported acquiring WILD Flavors GmbH, giving it the ability to offer food and beverage companies a comprehensive suite of systems to enhance and improve their products. In an all-cash deal worth nearly 2.3 billion euros of enterprise value, ADM would pay 2.2 billion euros to WILD Flavors shareholders Dr. Hans-Peter Wild and funds affiliated with Kohlberg Kravis Roberts & Co. L.P., and assume about 0.1 billion euros of net debt.

ADM Chairman and CEO Patricia Woertz stated: "Together, ADM and WILD Flavors will create one of the leading flavor and specialty ingredient companies in the world, with sales approaching $2.5 billion and significant room to grow." He added, "WILD Flavors will be able to reach more customers with an expanded portfolio of innovative ingredients. And ADM, with our own sizeable specialty ingredient business, will have an enhanced platform for the commercialization of our higher-margin food and wellness ingredients."

The transaction, which is contingent on regulatory approvals, may close by year end. Barclays is acting as financial advisor to ADM. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor.