In France, Archer Daniels Midland plans to acquire Chamtor, a producer of glucose, starch, and proteins from wheat, from Vivescia Industries. Financial terms were not disclosed.
“One of the key elements of our strategy to grow shareholder value is the expansion and diversification of our global sweetener and starch capabilities,” says Chris Cuddy, president of ADM’s corn processing business.
According to ADM, Chamtor’s location in Reims is the “heart of the European wheat belt,” with good access to customers in France, Germany, Belgium and the Netherlands. Chamtor has about 210 employees.
ADM, which has been granted exclusivity for the acquisition, aims to gain regulatory approvals and close the deal by summer.