ADM Reaches Agreement to Acquire AOR N.V.
By Business Wire News
By Business Wire News
Archer Daniels Midland Company (NYSE:ADM) announced today that it has reached an agreement to purchase AOR N.V., a privately held oil bottling company based in Antwerp, Belgium. AOR is a leader in the bottling and distribution of edible oils in Europe, with customers across the continent and a substantial export business. Its brands include Oilio® and Coroli®.
“This acquisition will allow us to expand our product offerings and customer base in Europe, offering entry into the continental European retail and foodservice markets and an enhanced ability to export value-added products internationally,” said Matt Jansen, president of ADM’s Oilseeds Processing business. “AOR is a leading company in the European packaged oils industry. It is a bolt-on acquisition that can be fully integrated into our operations, and offers excellent opportunities for profitable growth.
“ADM is continuing to execute on our strategy to increase returns by optimizing our core businesses and expanding strategically,” Jansen added. “The AOR business represents growth into new markets as well as new, higher-margin demand for the oils produced by our European operations.”
The proposed transaction is contingent on regulatory approvals.
AOR is a privately-owned company specializing in the bottling and distribution of edible oils, with a fully-automated warehouse and operations on the water at the Port of Antwerp. AOR serves customers across Europe, with particular strength in northwest Europe (Belgium, the Netherlands, Luxembourg), and has a substantial export business.
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 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 460 crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, chemical and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Jackie Anderson, 312-634-8484