ADM Enhances Flavor Power: Acquires Revela Foods To Spice Up Global Portfolio

Archer-Daniels-Midland Company  ADM disclosed the acquisition of Revela Foods for an undisclosed amount.

The acquisition will boost the company's global flavor portfolio. Revela is a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions, with projected sales of around $240 million in 2023.

Revela operates three state-of-the-art production facilities in the U.S. Midwest with around 400 employees.

Calvin McEvoy, ADM's president of global flavors, said, "Revela has built a strong business around its unique range of dairy flavor ingredients and solutions for customers spanning major brands, retailers and food service."

"ADM has a strong presence in the North America savory flavors segment, and we're excited to work with the impressive Revela team to expand our opportunities there, bringing their technology and innovation together with our global capabilities to power our unparalleled range of ingredients and complete solutions for customers who are looking for great flavors and clean labels."

The acquisition is anticipated to close in early 2024, subject to customary closing conditions.

Also Read: Plant Power: ADM And Solugen's Big Bet On Bio-Based Chemicals To Transform Industries

As of Q3-end, the company held $1.498 billion in cash and equivalents.

Price Action: ADM shares closed lower by 4.50% at $72.34 on Monday. 

Photo via Company