The new company, Ardent Mills, will serve customers in the baking and food industries, the companies said in a joint statement today (5 March). It will combine the operations of ConAgra Mills and Horizon Milling, a Cargill-CHS joint venture formed in 2002.
ConAgra Foods and Cargill will each own a 44% stake in Ardent Mills, with CHS owning a 12% interest. All three companies will have representatives on Ardent Mills’ board of directors.
The companies said the aim of the joint venture will be to “help customers increase their growth and profitability” through “innovative flour and grain products, services and solutions”.
“The company will offer a unique set of services, including product development resources, technical and application support, supply chain management and commodity price risk management,” the companies said. “Ardent Mills also will tap the market knowledge, transportation logistics, consumer insights, food ingredients and culinary expertise currently available through ConAgra Foods, Cargill and CHS.”