POLAND: ADM to acquire rapeseed processor Elstar Oils
ADM said the purchase of Elstar Oils is “an important step” in the expansion of its oilseed processing
US agribusiness giant Archer Daniels Midland (ADM) is to purchase Polish rapeseed processing firm Elstar Oils.
The acquisition, ADM said on Saturday (13 August), is "an important step" in the expansion of its oilseed processing, food manufacturing and biodiesel capabilities.
Warsaw-listed Elstar produces rapeseed oil and vegetable fats directed at the domestic and business-to-business market in Poland. The company has an annual rapeseed crush capacity of around 400,000 tons.
"Poland is an important origination and consumer market for ADM," said ADM Europe president Brent Fenton. "Elstar's location in the heart of a rapeseed growing region, with easy access to the ports of Gdansk and Gdynia, complements our existing presence in the region and will enable ADM to further strengthen its position in Eastern Europe. The biodiesel plant will enable ADM to develop the biodiesel market in Poland and fits well within the company's integrated business model."
No financial details of the deal were disclosed. The purchase is subject to antitrust authority approval.
Companies: Archer Daniels Midland
Logistics companies, far from being simple hauliers, have adapted to meet the increasingly complicated and specialised needs of customers in the food manufacture and retail spheres, such as tracking a...
Nestle's plan to partner with the Fair Labor Association in investigating the use of child labour in its cocoa supply chain could raise the bar in terms of corporate accountability regarding this long...
Major UK retailers reported a bit of a mixed Christmas, with Tesco's shares sliding following a trading announcement, while Sainsbury's claimed a "record-breaking" festive period. The fortunes of US b...
- just-food 2017 Survey - your thoughts on growth
- 2017 - what will shape the UK food sector?
- Food market in 2017: need-to-know US trends
- Food market in 2017: big foodservice trends
- Could BRF's Turkey move pave way for OneFoods IPO?
- Ferrero insists Nutella not pulled from shelves
- UK's Bakkavor plays down IPO "speculation"
- PepsiCo launches Walkers Mediterranean in UK
- Mondelez plans "selective" UK price hikes
- US targets increased organic production