ADM to buy controlling stake in Harvest Innovations: 'Consumers are looking for non-GMO, organic, and minimally processed foods'

03-Feb-2016 - Last updated on 14-Mar-2017 at 17:46 GMT

Picture: United Soybean Board

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ADM has boosted its presence in the market for organic, non-GMO, gluten-free and 'minimally processed' foods and ingredients after striking a deal to buy a controlling stake in Iowa-based Harvest Innovations.

Harvest Innovations manufacturers a wide variety of products from non-GMO soy chips and expeller-pressed soy flour, to textured vegetable protein, organic soy crisps, and gluten-free flours and pastas made from beans, corn, rice, lentils and quinoa, said Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit.

“More and more consumers are looking for foods that are gluten-free, that aren’t genetically modified, and that are healthy and organic, and ADM is perfectly positioned to meet those needs.”

Best-known for its non-GMO and organic soy ingredients, which it processes without using hexane, Harvest Innovations is based in Indianola, Iowa, and has a second processing facility in Deshler, Ohio.

ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming months.