ADM Invests in Expansion of Pet Food Business with Purchase of Crosswind Industries
January 10 2017 - 03:12PM
Business Wire
- Addition of five new facilities,
including four extrusion plants and a highly efficient packaging
facility, significantly increases company’s capabilities in
fast-growing pet food market
Archer Daniels Midland Company (NYSE: ADM) announced today that
it has signed an agreement to acquire Crosswind Industries, Inc., a
Kansas-based producer of dry-expanded, dual-texture, semi-dry and
semi-moist treat products for pets.
“The global pet food industry represents a strong opportunity
for strategic growth, especially for a company with the global
resources of ADM,” said Brent Fenton, president of ADM’s Animal
Nutrition business. “ADM already sells more than 50 ingredients and
commodities that are used by more than 70 percent of all pet food
companies in North America. Now, we’re taking the next step with
the addition of Crosswind Industries to our global network. With
five production facilities and a wide range of successful products,
Crosswind represents a strong opportunity to expand our
capabilities, and a great fit not just with the Animal Nutrition
business, but across ADM’s wider portfolio of ingredients, colors
and flavors for pets. We’re looking forward to combining
Crosswind’s operations and products with our own to provide
customers an even broader array of products and services.”
Crosswind Industries is an industry leader in the manufacture of
contract and private label pet treats and foods, as well as
specialty ingredients. Its 300 employees operate five processing
lines across five Kansas facilities, with nine “ready for retail”
packaging lines.
“Since early 2015, we have announced or completed several
organic growth and improvement projects for our Animal Nutrition
business across the U.S., as well as overseas,” Fenton continued.
“We’ve also been active on the M&A front, with the acquisition
of Lyrco Nutrition and the creation of our Alliance Liquid Feeds
joint venture. Now, with the addition of Crosswinds, we are
continuing our efforts to grow our business so as to set the
industry standard and ensure that we are continuing to meet growing
customer needs for quality animal nutrition products.”
ADM anticipates closing the deal in the coming weeks.
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 Animal Nutrition
ADM Animal Nutrition is a leading manufacturing, nutrition and
marketing business offering a wide range of innovative products for
the animal nutrition market. Known as a global leader in amino
acids, ADM Animal Nutrition also offers consistent, high-quality
feed products, supplements, premixes, custom ingredient blends and
specialty feed ingredients designed to provide leading-edge
solutions, enabling our customers to meet and optimize animal
health and nutrition goals. Learn more at
www.ADMAnimalNutrition.com.
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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