US agribusiness giant Archer Daniels Midland has snapped up two oilseed processing plants in India.
ADM has acquired plants in Kota in the north-western state of Rajasthan and Akola, which is in the state of Maharashtra, in the west of the country. The facilities, which process rapeseed, soy and palm have been acquired from local firm Geepee Agri for an undisclosed sum.
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“This acquisition advances ADM’s strategy to expand the size and global reach of our operations and increases our presence in the growing Indian market,” Brent Fenton, president of ADM’s operations Europe, said today (6 September).
Alongside the acquisition, ADM has set up a new head office for its Indian operations. The site is based in Guragon, near New Delhi.
Earlier this year, ADM took full control of its Tinna Oils venture in India. The business runs a soybean and sunflower seed plant in Latur in Maharashtra, a soybean and sunseed facility in Dharwad in the state of Karnataka and a warehouse in Visakhapatnam, a port in the south-east of India.
ADM also acquired the soybean processing assets of Madhur Agro in Nagpur earlier this year.
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By GlobalData
