DECATUR, Ill. (AP) — Agribusiness giant ADM is paying about $3 billion to buy the privately held Swiss company Wild Flavors, which supplies natural ingredients to the food and beverage industry.
Archer Daniels Midland Co.'s all-cash deal will total about $3.13 billion, counting debt. That translates to 2.3 billion euros.
ADM processes corn, soybeans and other crops to make everything from animal feed to ethanol. The Decatur, Illinois, company says the deal expands its ability to serve the evolving needs of its customers.
Wild Flavors sells full flavor and ingredient products known as flavor systems as well as fruit juice concentrates and blends and natural flavors.
The companies expect to close the deal by the end of the year