ADM announced that it has agreed to acquire a Morocco-based corn wet mill.
One of the world’s largest agricultural processors and food ingredient providers, Archer Daniels Midland Company announced that it has agreed to acquire from Tate & Lyle a Casablanca, Morocco-based corn wet mill that produces glucose and native starch. The acquisition is subject to regulatory approval. ADM targets closing during the first half of 2016.
“The Morocco plant, which serves both global and regional customers in the food, feed, paper and corrugated board industries, is a great addition to our global sweeteners and starches footprint,” said Chris Cuddy, president of ADM’s Corn Processing business unit. “The facility is the leading sweetener and starch supplier in a country that should see substantial demand growth in the coming years. It is well-positioned to serve Moroccan customers as well as Mediterranean export markets. This also represents an opportunity to help introduce a wider range of ADM food and feed ingredients to the Moroccan market.”