ADM to acquire Revela Foods to enhance global dairy and savory flavors portfolio
ADM (NYSE: ADM), a global leader in human and animal nutrition, today revealed its plan to enhance its flavors capabilities through an agreement to acquire Revela Foods, a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions.
Growth in Global Dairy and Savory Flavors Segments
With projected sales nearing $240 million in 2023, Revela Foods is poised to bolster ADM’s presence in the $1.8 billion global dairy flavors segment and the $3.2 billion savory flavors segment. Since its acquisition by New Heritage Capital in 2019, Revela has experienced rapid growth, primarily driven by its innovative enzyme technology. This technology facilitates a wide range of clean-label dairy flavor formulations applicable in various food products.
ADM’s Expansion and Revela’s Capabilities
ADM, with its strong North American presence in savory flavors, is eager to integrate Revela’s advanced technologies and innovations. Calvin McEvoy, ADM’s president of global flavors, expressed enthusiasm about expanding opportunities in the savory flavors segment and leveraging Revela’s unique range of dairy flavor ingredients.
ADM to Expand Flavors Capabilities with Acquisition of Revela Foods
Partnership Synergy and Employee Opportunities
Terry Schneider, CEO of Revela Foods, highlighted the partnership’s potential for providing comprehensive solutions to customers and offering greater career advancement opportunities for employees.
ADM’s Continuous Growth in Nutrition Solutions
Since acquiring WILD Flavors in 2014, ADM has continuously expanded its flavors portfolio, incorporating acquisitions such as Eatem Foods, Florida Chemical Company, Erich Ziegler Citrus, and Rodelle. The company has also globalized its flavors capabilities with strategic acquisitions and investments in innovation centers worldwide.
ADM’s Nutrition Business and Global Strategy
Ian Pinner, president of ADM’s Nutrition business, emphasized the company’s integrated business model and its dedication to offering customizable nutrition solutions. ADM’s flavors business, a key component of its growth strategy, continues to evolve as a leading partner in the global nutrition industry.