The agribusiness giant announced the €2.3bn ($3.1bn) deal in July, when ADM chairman and CEO Patricia Woertz explained that Wild’s flavour expertise would complement the company’s existing know-how in specialty ingredients for texture, function and nutrition.
ADM said it would form a new business unit, Wild Flavors and Specialty Ingredients, which will include the Wild business as well as several of its ingredient lines, including its specialty proteins, emulsifiers, soluble fibre, polyols, hydrocolloids, edible beans and its natural health and nutrition business.
Woertz said in a statement: “One of the most important ways we are working to increase returns and reduce earnings volatility is through the growth of our specialty ingredient offerings.
“These high-value products provide the opportunity for increased margins and strong sales aligned with global consumer trends.”
Wild Flavors and Specialty Ingredients will be a reportable business segment for ADM from January 1.
Wild’s majority owner Hans-Peter Wild will join an advisory board for the business, alongside Wild’s CEO Mike Ponder, who recently announced his retirement.
ADM’s Greg Morris will be president of the new business unit, while Wild North American COO Vince Macciocchi will take on the role of global president for Wild Flavors. Morris most recently was ADM’s president of North American Oilseeds Processing.
No one from Wild Flavors GmbH responded to a request for further information on the deal prior to publication.