ADM, a global leader in nutrition, announced today that it has agreed to acquire Revela Foods, a Wisconsin-based company that develops and produces dairy flavor ingredients and solutions.
The deal would enhance ADM’s flavors portfolio in the dairy and savory segments, which are worth $1.8 billion and $3.2 billion respectively.
Revela Foods, which has been backed by New Heritage Capital since 2019, has grown rapidly with its enzyme technology that enables a wide range of clean-label dairy flavor applications. Revela operates three production facilities in the U.S. Midwest and has projected sales of almost $240 million in 2023.
The acquisition is part of ADM’s strategy to build a global leader in flavor ingredients and solutions. Since 2014, ADM has acquired several companies and expanded its capabilities in savory, citrus, vanilla, and other flavor categories. ADM has also invested in its global network of innovation centers and production facilities. The transaction is expected to close early in 2024, subject to customary conditions and approvals.
“Revela has built a strong business around its unique range of dairy flavor ingredients and solutions for customers spanning major brands, retailers and food service,” said Calvin McEvoy, ADM’s president of global flavors.
“ADM has a strong presence in the North America savory flavors segment, and we’re excited to work with the impressive Revela team to expand our opportunities there, bringing their technology and innovation together with our global capabilities to power our unparalleled range of ingredients and complete solutions for customers who are looking for great flavors and clean labels.”
Terry Schneider, Revela’s chief executive officer, said, “We are excited to partner with ADM to further Revela’s reputation as an innovative, turnkey provider of dairy flavor ingredients and solutions.”
“We believe joining the ADM family will allow us to offer even broader solutions to our customers and will provide our employees with even greater opportunities for advancement.”
Ian Pinner, president of ADM’s Nutrition business, said, “ADM’s integrated business model and unparalleled production and product application expertise power a portfolio of customizable, complete nutrition solutions that no other company can match.”
“Our flavors business is an important pillar of our Nutrition growth strategy, and we are continuing to add to our flavors pantry to ensure we remain the partner of choice for customers around the globe.”
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