ADM to sell Bolivian oilseeds business to Inversiones Piuranas

US-based food company Archer Daniels Midland Company (ADM) has reached an agreement with Inversiones Piuranas to sell its oilseeds operations in Bolivia.

Financial details of the deal have not been divulged by both the companies.

Under the deal, ADM has agreed to sell its processing facility in Santa Cruz de la Sierra, as well as nine-grain silos and Bolivian distribution business.

Subject to regulatory approvals, the transaction is expected to be completed in the first half of next year.

Upon completion of the deal, ADM will continue to operate its oilseeds business in Bolivia.

ADM’s oilseeds operation in Bolivia includes the processing of soybeans and sunflower into oils and protein meal.

The US food company currently employs nearly 400 staff members in Bolivia.

ADM has been in the food business for more than a century as largest agricultural processors and food ingredient providers, with approximately 32,000 employees serving customers in more than 160 countries.

The company has a value chain, which includes nearly 500 crop procurement locations, 250 ingredient manufacturing facilities, and 38 innovation centres that are engaged in making products for food, animal feed, industrial, and energy uses.