Global food processing company Archer Daniels Midland (ADM) has reached an agreement to acquire Florida Chemical Company (FCC), a part of Flotek Industries that specialises in citrus-based flavours and fragrances.

Financial details of the acquisition have not been disclosed by both companies.

ADM Nutrition business unit president Vince Macciocchi said: “ADM is already a leader in natural flavours for food and beverages, offering a wide variety of high-value products and solutions in areas such as vanilla and mint, and this acquisition will place us in a leadership position for citrus flavours as well.

“Citrus is one of the fastest-growing flavour categories, and the single most important taste profile for beverages and no one in North America does citrus better than Florida Chemical Company.”

“FCC’s expertise, together with our combined leadership in research and development, will allow us to strategically accelerate and expand our diverse offering to a wide and growing customer base.”

Completion of the deal is subject to the regulatory approval and is expected to take place during the first quarter of 2019.

FCC’s approximately 75 employees will transfer to ADM.

Established in 1942, FCC has been providing premium citrus ingredients to its customers for more than half a century.

With its base in Winter Haven, Florida, the company produces a wide range of high-value citrus flavour ingredients, speciality terpenes and formulated products.

FCC’s product portfolio includes individual citrus flavour materials and essential oils, including flavour enhancers for grapefruit and citrus flavour modifiers specifically targeted to improve the quality and taste of food and beverages sweetened with natural or artificial sweeteners.

Florida Chemical president and Flotek Operations executive vice-president Josh Snively said: “ADM has long been an admired industry innovator whose global nutrition portfolio capabilities are second-to-none.

“Florida Chemical’s citrus expertise, together with our combined leadership in research and development, will allow us to strategically accelerate and expand our diverse offering to a wide and growing customer base.”