ADM finalises Chamtor deal
ADM said the completed acquisition of the wheat processing plant which produces glucose, starch and proteins will help it meet growing customer needs in Western Europe.
Founded in 1992 by farming partners, Chamtor produces sweeteners and starches from regionally-sourced wheat in Reims, France and was formerly owned by Vivescia Industries. It processes 450,000 tonnes of wheat per year - half of which goes for export - and last reported an annual sales turnover of €155 million.
The Chamtor deal is the latest in a line of investments into ADM’s sweetener and starch footprint. In 2015 the US-headquartered agri-food giant bought corn wet mills in Bulgaria and Turkey and a 50% stake in a wet mill in Hungary. Last year, it also bought a sweetener and starch facility in Morocco, and announced expansion plans for the Turkey and Bulgaria plants.
“We are pleased to welcome Chamtor as the latest expansion of our global sweetener and starch footprint,” said Pierre Duprat, president, Europe, Middle East and Africa. “France is well-known in Europe for its wheat production capabilities, and is a key destination market for starch-based products.”
Duprat said the new plant is ‘ideally located’ at the heart of the cereal market “and within reach of customers across Spain, Germany, France and Benelux.”
“With increasing demand for sweeteners and starches in Europe, the Middle East and North Africa, ADM is expanding in the region to ensure we meet those growing customer needs,” he added.
