Archer Daniels Midland ( ADM ) has completed its acquisition of natural citrus oils and ingredients manufacturer Florida Chemical Company ( FCC ) for a reported $ 175 million . ADM will add a range of citrus flavour materials , chemicals and modifiers to its existing portfolio through the deal , while significantly strengthening its manufacturing capacity . The citrus flavours market , which is currently worth an estimated $ 8bn , is expected to grow by almost 50 % annually to 2020 . FCC is a division of Flotek plc , and ADM and Flotek will establish long - term reciprocal supply agreements as part of the acquisition .
Archer Daniels Midland (ADM) has concluded its acquisition of natural citrus oils and ingredients manufacturer Florida Chemical Company (FCC) for a reported $175m. ADM will add a range of citrus flavour materials, enhancers and modifiers to its existing portfolio through the deal, while significantly strengthening its manufacturing capacity. The citrus flavours market, which is currently worth an estimated $8bn, is expected to grow by almost 5% annually to 2025. FCC is a division of Flotek Industries, and ADM and Flotek will establish long-term reciprocal supply agreements as part of the acquisition.