ADM intends to acquire Chamtor in France
Global agricultural processor and food ingredient provider Archer Daniels Midland (ADM) has obtained exclusivity in relation to the proposed acquisition of Chamtor, a French producer of wheat-based sweeteners and starches.
Established in 1992, Chamtor produces glucose, proteins and starch from wheat.
Based in Reims, Chamtor has a workforce of more than 210 staff members and is currently owned by Vivescia Industries.
ADM Europe Middle East and Africa president Pierre Duprat said: “After adding to our sweetener and starch capabilities in Eastern Europe, we are continuing to execute our strategy by expanding in Western Europe.
“70% 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.”
In 2015, ADM has strengthened its presence by acquiring corn wet mills in Bulgaria and Turkey, as well as a 50% stake in a wet mill in Hungary.
Last year, the company purchased a sweetener and starch facility in Morocco, and revealed its expansion plans for its plants in Turkey and Bulgaria.
ADM corn processing division president Chris Cuddy said: “One of the key elements of our strategy to grow shareholder value is the expansion and diversification of our global sweetener and starch capabilities.
“With our significant and growing footprint, we are looking forward to efficiently serving sweetener and starch customers throughout Europe.”
According to French law, companies need to inform and consult with the relevant employee representative bodies before signing an acquisition agreement.
ADM anticipates that the sale would be completed later this year.