ADM takes complete ownership of Amazon Flavors

Archer Daniels Midland (ADM) has acquired complete ownership of Amazon Flavors, a Brazil-based manufacturer of natural extracts, emulsions and compounds.

ADM previously had a 40% stake in Amazon Flavors.

ADM’s WILD Flavors and Specialty Ingredients business unit president Vince Macciocchi said: "Brazil is a key market as we continue to grow our ingredient sales around the globe.

"Brazil is the largest food and beverage market in South America, and we look forward to working with the Amazon Flavors team to ensure that we are the go-to source for Brazilian food and beverage customers."

Amazon Flavors has production facilities and product development and application laboratories in Manaus and São Paulo.

The company creates natural extracts derived from guarana plant and açai berries, as well as other compounds to cater to the Brazilian beverage market.

Macciocchi added: "WILD Flavors and Specialty Ingredients is continuing to deliver shareholder value through strategic expansions and additions to our product portfolio.

"From our majority stake in Harvest Innovations, to our Eatem foods acquisition, to the addition of SUPERB to our protein and fiber ingredient portfolio, we are executing on our plan to build global ingredient and flavour capabilities and offer our customers a full slate of customised turnkey solutions.

"We continue to look for strategic opportunities to reach new markets and offer new solutions for our customers."

ADM South America president Scott Fredericksen said: "This is yet another sign of our commitment to grow our already substantial business in Brazil.

"From the expansion of our ports in Santos and Barcarena, to the construction of our new protein facility in Campo Grande, to this enhanced presence in the Brazilian flavor industry, ADM continues to invest in Brazil."