CHICAGO — Archer Daniels Midland Co. has completed its acquisition of the remaining 50% stake of British grain merchant Gleadell Agriculture Ltd., including wholly owned subsidiary Dunns (Long Sutton) Ltd.
“In the coming weeks, ADM will merge Gleadell with ADM Arkady, ADM’s U.K. destination marketing business, and ADM Direct U.K., ADM’s specialist combinable crop origination business, to create ADM Agriculture Ltd.,” ADM said. “This investment will further increase customer service and processing capabilities, widen existing U.K. footprint and strengthen ADM’s presence nationwide — positioning ADM as the trading partner of choice for even more farmers and customers.”
The transaction comes after months of speculation that ADM would buy longtime competitor Bunge Ltd. But in an interview with Reuters on Jan. 16, Juan Luciano, chief executive officer of ADM, said the company decided the time was not right for “monster” acquisitions.
Established in 1880, Gleadell Agriculture Ltd. is a supplier of combinable crops to U.K. millers, feed compounders and other consumers, and a major exporter of grains, oilseeds and pulses to E.U. markets and other destinations.
Gleadell sources crops directly from U.K. farmers and supplies certified seed and fertilizers. Key assets include port storage and ship loading operations along with extensive pulse and agricultural seed processing and storage.