ADM Adds to Specialty Pasta Capabilities with Purchase of Caterina Foods
September 30 2016 - 1:45PM
Business Wire
- Toll producer for Harvest Innovations
will further enhance ADM’s capabilities in the gluten-free and
high-protein specialty pasta market
Archer Daniels Midland Company (NYSE: ADM) announced today that
it has purchased the assets of Caterina Foods, a leading toll
manufacturer of specialty gluten-free and high-protein pastas.
“ADM is continuing to deliver on our strategy to create
shareholder value by expanding our capabilities downstream in the
value chain,” said Vince Macciocchi, president of ADM’s WILD
Flavors and Specialty Ingredients business. “Caterina is a toll
processor for our majority-owned Harvest Innovations, and will
be a key part of our growth plans for that important business. The
addition of the Caterina business gives us yet another way in which
to meet the needs of health-conscious consumers—in this case
expanding our ability to produce specialty pastas from legumes and
grains other than wheat.”
Caterina produces gluten-free and high-protein pastas in a
variety of shapes and sizes from flours made from corn, lentils,
peas, rice, quinoa and many other grains and legumes.
“Since we purchased a controlling stake in Harvest Innovations,
we have continued to see increased demand for gluten-free and other
non-wheat pastas,” Macciocchi continued. “Together, Harvest and
Caterina will allow us to streamline our operations while expanding
our capabilities in this growth area. We are looking forward to
finding new ways to expand and advance the Harvest and Caterina
businesses, and working with customers across the country to meet
their ingredient needs for health-conscious consumers.”
Caterina Foods, based in Lake Bluff, Illinois, has about 60
employees.
Forward-Looking Statements
Some of the above statements constitute forward-looking
statements. ADM’s filings with the SEC provide detailed information
on such statements and risks, and should be consulted along with
this release. To the extent permitted under applicable law, ADM
assumes no obligation to update any forward-looking statements.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
the vital needs of a growing world. Today, we’re one of the world’s
largest agricultural processors and food ingredient providers, with
more than 32,300 employees serving customers in more than 160
countries. With a global value chain that includes 428 crop
procurement locations, 280 ingredient manufacturing facilities, 39
innovation centers and the world’s premier crop transportation
network, we connect the harvest to the home, making products for
food, animal feed, industrial and energy uses. Learn more at
www.adm.com.
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Archer Daniels Midland CompanyMedia
RelationsJackie Andersonmedia@adm.com312-634-8484
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