Denver, CO—Ardent Mills announced the completion of its acquisition of substantially all of the assets of chickpea producer Hinrichs Trading Company (HTC). The deal builds on Ardent Mills’ existing specialty ingredient capabilities and grower connections, according to a press release, and helps customers bring innovative products to market to meet growing consumer demand for pulse and plant-based ingredients.
HTC, which operates across five locations in Washington and Montana, has over 30 years of experience, and has been involved in chickpea production since it was first introduced in the United States. The acquisition enables Ardent Mills to leverage HTC’s strong connection to producers, expertise in seed varieties, and finished products processing, the company said. This expertise will be combined with Ardent Mills’ insights, risk management and R&D resources, and enable Ardent Mills to offer complete field-to-formulation solutions for customers.
“We are very pleased to reach today’s milestone and to welcome the talented Hinrichs Trading Company team to the Ardent Mills family,” said Dan Dye, CEO, Ardent Mills, in the release. “Together, we will bring nutritious grain-based and specialty ingredient solutions to our customers and help further nourish our communities.”
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Phil Hinrichs, CEO, Hinrichs Trading Company, added, “Hinrichs Trading and the Hinrichs family feel that the Ardent Mills’ team will help move the pulse industry above and beyond all expectations we have had for our farmers and our customers. The future is very exciting.”