ADM acquires Poland's Elstar Oils
Dec. 15, 2011
by Eric Schroeder
DECATUR, ILL. — Archer Daniels Midland Co. said the Polish Office of Competition and Consumer Protection has approved the acquisition of Elstar Oils S.A., by Archer Daniels Midland Nederland B.V., giving ADM operational control of the company. Additionally, Archer Daniels Midland Nederland B.V. acquired the remaining 2.26% of Elstar Oils shares, and now owns 100% of the company.
“Achieving operational control of Elstar Oils is an important step in ADM’s strategy to acquire and consolidate existing oilseed processing, food manufacturing and biodiesel capabilities in this growing origination and consumer market,” said Brent Fenton, president, ADM Europe. “Elstar’s facilities are ideally located to complement and expand our ownership in the Eastern Europe region.”
Located in northern Poland, Elstar operates a rapeseed crushing, refining, solid-fat packaging and oil bottling facility in Czernin and a fully-automated biodiesel facility in Malbork.
ADM first announced its intent to acquire a majority stake in Elstar on Aug. 13, and later launched a public tender offer for all the shares of Elstar on Aug. 16.
ADM plans to delist Elstar from the Warsaw Stock Exchange.
In addition to Elstar, ADM’s other operations in Poland include an oilseeds crushing and refining facility in Szamotuly that refines and bottles retail vegetable oils; country elevators in Slawa Wielkopolska and Chroscin; an import and export terminal owned as part of a joint venture in the port of Gdynia, where a new grain warehouse to expand capacity is planned; and a joint venture with Princes to expand the distribution of bottled vegetable oils.