Founded in 1992 by farming partners, Chamtor produces glucose, starch and proteins from regionally-sourced wheat in Reims, France and is currently owned by Vivescia Industries. It processes 450,000 tonnes of wheat per year - half of which goes for export - and last reported an annual sales turnover of €155 million. Financial details of the transaction have not been disclosed. A spokesperson for ADM told FoodNavigator: ​“We are buying this businesss because we’re impressed with it, and committed to working with the team there in order to help it grow.​ “​Subject to signing and closing of the purchase agreement, this will be a strong addition to ADM’s global corn processing business.”​ Pierre Duprat, president of ADM for Europe, Middle East and Africa said: “Seventy percent of the European starch and derivatives market is in Western Europe.”​ “Chamtor is located in the heart of the European wheat belt, and is perfectly positioned to efficiently serve Western European sweetener and starch customers, particularly in France, Germany, Belgium and the Netherlands.”​ The strategic acquisition in Western Europe comes after the company added to its sweetener and starch capabilities in Eastern Europe. In 2015 the US-headquartered agrifood giant bought corn wet mills in Bulgaria and Turkey and a 50% stake in a wet mill in Hungary. Last year, it also bought a sweetener and starch facility in Morocco, and announced expansion plans for the Turkey and Bulgaria plants.​​ Before entering into force, French law requires the acquisition agreement to be signed by the relevant employee representative bodies but ADM said it expects this process to be complete by this summer. Chamtor employs around 210 people. Neither ADM nor Chamtor would confirm whether any jobs would be lost following the transfer of ownership.
Agri-food business Archer Daniels Midland and the agrichemical company Monsanto have been accused of using their market power to influence global climate policy.