ADM Eyes Acquisition of French Sweetener and Starch Firm

Archer Daniels Midland (ADM) announced Monday that the Chicago-based corporation was given exclusivity in its proposed purchase of Chamtor, a provider of wheat-based sweeteners and starches based in France.

“After adding to our sweetener and starch capabilities in eastern Europe, we are continuing to execute our strategy by expanding in western Europe,” Pierre Duprat, president of ADM Europe, Middle East, and Africa, said in a statement. “70% of the European starch and derivatives market is in Western Europe.”

The firm said Chamtor’s position in the center of the continent’s wheat belt is ideally suited to serve western European sweetener and starch customers, especially in the Netherlands, Belgium, Germany, and France. Headquartered in Reims, Chamtor was founded in 1992 and is currently owned by Vivescia Industries.

In the past several years, ADM has purchased several corn wet mills in eastern Europe and acquired a 50% stake in a wet mill site in Hungary. The firm recently announced plans to expand its wet mill facilities in Turkey and Bulgaria.

“One of the key elements of our strategy to grow shareholder value is the expansion and diversification of our global sweetener and starch capabilities,” said Chris Cuddy, president of ADM’s corn processing unit. “With our significant and growing footprint, we are looking forward to efficiently serving sweetener and starch customers throughout Europe.”

Though the proposed sale must go through regulatory approvals, ADM said it expects the transaction to be complete in the summer.

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