Dive Brief:
- Archer Daniels Midland Company is acquiring a tree nut and seed processing facility and assets in Modesto, CA, from California Gold Almonds.
- ADM's Specialty Commodities business produces a range of ingredients, including nuts, fruits, seeds, legumes, and ancient grains, and this acquisition will expand that segment's production capacity.
- The new facility can perform a variety of functions, including steam pasteurizing, roasting, dicing, slicing, milling, and packaging, and processes a variety of nuts, such as almonds, cashews, Brazil nuts, pecans, pistachios, hazelnuts, walnuts, and macadamias.
Dive Insight:
"Global demand for almonds, macadamias, pumpkin seeds, cashews and other healthy, on-trend nuts and seeds is growing, and production is projected to continue rising...Our customers look to us to make sure they can meet growing consumer demand, and we are committed to delivering for them," Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit, said in a news release. "This acquisition helps ensure that we stay ahead of consumer demand trends, and continue to meet customer needs in a growing market."