Archer Daniels Midland (ADM) has reached an agreement to purchase a controlling stake in Harvest Innovations, a manufacturer of minimally-processed, expeller-pressed soy proteins, oils, and gluten-free ingredients.
“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,” said Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit. “We were already the provider of choice for a wide range of healthy, clean-label ingredients, and in the last year, we’ve significantly expanded our product portfolio. Today’s addition perfectly complements our existing ingredient businesses and offers customers a full-service, one-stop shop for their ingredient needs.”
Harvest Innovations uses expeller pressing to turn grains, legumes, and oilseeds into minimally-processed, non-GMO, organic, gluten-free ingredients. Products range from non-GMO soy chips, expeller-pressed soy flour and textured vegetable protein, to organic soy crisps and gluten-free flours and pastas.
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.