Archer Daniels Midland Set to Buy Wild Flavors in $3 Billion Deal

Archer Daniels Midland said it will buy Swiss-German natural ingredient company Wild Flavors for $3.1 billion in cash and debt, marking its biggest acquisition to date. ADM said it expects to create a new business segment called Wild Flavors and Specialty Ingredients with sales approaching $2.5 billion. It says the acquisition will give the company the ability to offer food and beverage companies a comprehensive suite of systems to enhance and improve their products. In a statement, ADM Chairman and CEO Patricia Woertz said the deal is consistent with the company's long-term strategy to diversify its product portfolio and complements the investments it's recently made in Brazil and China.