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. In addition to adding new flavours, ADM’s Citrus Flavours business unit will also be expanding into other food products including ready-to-eat snacks such as popcorn, chips, cookies and candies.
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.