Reuters — Archer Daniels Midland is buying AOR NV, a privately held edible oils bottler and distributor based in Antwerp, Belgium, the U.S. grain company said Monday.
Chicago-based ADM did not disclose the cost of the purchase, its latest acquisition aimed at expanding into higher-margin products including food-grade oils and food ingredients.
ADM bought Swiss-German natural ingredients company Wild Flavors last July for $3 billion and later added health foods ingredient company Specialty Commodities for $170 million (all figures US$).
The AOR acquisition, subject to regulatory approvals, would expand ADM’s reach in Europe, particularly Belgium, the Netherlands and Luxembourg, and in export markets via AOR’s facility at the Port of Antwerp.
— Reporting for Reuters by Karl Plume in Chicago.