US food processing firm ADM completes Chamtor acquisition
Global food company Archer Daniels Midland Company (ADM) has completed the acquisition of French wheat-based sweeteners and starches producer Chamtor.
ADM anticipates that the acquisition would help meet the needs of customers in Western Europe and further enhance its footprint in the global sweetener and starch market.
ADM Europe, Middle East and Africa president Pierre Duprat said: “France is well-known in Europe for its wheat production capabilities and is a key destination market for starch-based products. The Bazancourt plant is ideally located at the heart of the cereal market and within reach of customers across Spain, Germany, France and Benelux."
Chamtor is engaged in the production of wheat glucose, starch and proteins.
In 2015, ADM acquired the entire ownership of corn wet mills in Bulgaria and Turkey, as well as a 50% stake in a wet mill in Hungary.
The company also purchased a sweetener and starch facility in Morocco last year and revealed that it intends to further expand its Turkey and Bulgaria plants.
Duprat added: “With increasing demand for sweeteners and starches in Europe, the Middle East and North Africa, ADM is expanding in the region to ensure we meet those growing customer needs.”