Chicago, Illinois–ADM (Archer Daniels Midland Company) announced its acquisition of FCC (Florida Chemical Company–a division of Flotek Industries). The agreement between the two companies is set to finalize at the end of the first quarter of 2019.
With 31,000 employees, the large-operation agricultural processor of food ingredients says it is looking to expand its products to the world of citrus. ADM, which currently focuses on flavors like mint and vanilla, anticipates that citrus products will open doors for product development.
“Citrus is one of the fastest-growing flavor categories, and the single most important taste profile for beverages, and no one in North America does citrus better than Florida Chemical Company,” said Vince Macciocchi, president of ADM’s Nutrition business division in a press release.
Winter Haven, Florida-based FCC produces several citrus-themed products, including individual citrus flavor materials and essential oils, flavor enhancements, as well as modifiers that blend with natural and artificial sweeteners.
“Florida Chemical’s citrus expertise, together with our combined leadership in research and development, will allow us to strategically accelerate and expand our diverse offering to a wide and growing customer base,” explained Josh Snively, President of Florida Chemical and Flotek’s Executive Vice President of Operations.
“Addtionally, I am pleased that we will continue our strong relationship with Flotek through both a long-term supply agreement and through the joint pursuit of next-generation chemistry technologies for the energy and agriculture industries.”