Archer Daniels Midland recently announced the acquisition of Flavor Infusion International.
"[Our] customers, as well as its employees, will benefit from ADM's global presence, significant R&D capabilities and robust sales and marketing resources," Flavor Infusion Chairman and CEO Daniel DeClark said in a press release. "Strategically, this transaction is a perfect fit for both parties."
Based in Panama, Flavor Infusion serves a large beverage offering to customers across Latin America and the Caribbean.
"I'm pleased to welcome the Flavor Infusion team to ADM," Vince Macciocchi, president of ADM's nutrition business, said in the release. "They've built a great business. We're planning a seamless transition as we add our global capabilities to expand the range of products, services and solutions we can offer to existing and new customers in growing segments across Latin America and the Caribbean."
Archer Daniels Midlands' nutrition division brings in annual profit growth of 15% to 20% a year.
"Our nutrition segment has been delivering profit growth and our flavors business has been an important driver of that success, with annual sales growth of more than 10%," Macciocchi said. "This acquisition represents another important bolt-on addition as we expand our capabilities in this high-value segment.
Two new state-of-the-art manufacturing facilities based in Panama and Colombia will derive from the partnership.
"Having founded and owned numerous flavor operations for more than 50 years, I can confidently say that ADM is the ideal partner to carry on Flavor Infusion's legacy as a premier provider of flavor and specialty ingredient solutions to the beverage industry in Latin America and the Caribbean," DeClark said.