ADM has reached an agreement to purchase Revela Foods, a U.S. dairy flavor manufacturer, for an undisclosed amount.
Specializing in clean-label dairy flavor formulations through enzyme technology, Revela is equipped with three production facilities in the US Midwest. With a workforce of around 400 employees, the company serves diverse applications, including snacks, frozen meals, sauces, dressings, soups, seasonings, and desserts.
Anticipated to reach sales of approximately $240 million in 2023, Revela’s acquisition will enhance ADM’s global dairy flavors sector and contribute to the expansion of capabilities in the savory flavors segment.
Calvin McEvoy, ADM’s president of global flavours, said, “Revela has built a strong business around its unique range of dairy flavour ingredients and solutions for customers spanning major brands, retailers and foodservice”.
“ADM has a strong presence in the North America savoury flavours 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 flavours and clean labels.”
Terry Schneider, Revela’s chief executive officer, commented, “We are excited to partner with ADM to further Revela’s reputation as an innovative, turnkey provider of dairy flavour 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, added, “ADM’s integrated business model and unparalleled production and product application expertise power a portfolio of customisable, complete nutrition solutions that no other company can match. Our flavours business is an important pillar of our Nutrition growth strategy, and we are continuing to add to our flavours pantry to ensure we remain the partner of choice for customers around the globe.”
The finalization of the acquisition is contingent upon meeting standard closing conditions and obtaining regulatory approvals.
ADM intends to finalize the transaction in the early months of 2024.
