Hong Kong-based commodities trading company Noble Group has said it has acquired major assets and the business of Canadian pulses firm Finora Canada from US agribusiness giant Archer Daniels Midland.


Financial details of the deal were not disclosed, but Noble said Finora, a Canadian-based pulses supplier and processor, had global sales of more than US$100m, reported Reuters.


Noble said the deal would also provide a platform for it to widen its cooperation with ADM.


“We have linked a Western producer of a commodity that has its primary growing base of demand in countries in the east where Noble is strong,” Richard Elman, chief executive officer of Noble, said in a statement.


“I view this acquisition as a perfect example of the type of synergies we will focus on for continued expansion,” Elman was quoted by Reuters as saying.