Archer Daniels announces agreement to acquire Revela Foods

ADM announced it is adding to its flavors capabilities with an agreement to acquire Revela Foods, a Wisconsin-based developer and manufacturer of dairy flavor ingredients and solutions. “Revela, with projected sales of almost $240M in 2023, would add new capabilities to ADM‘s global flavors portfolio in the $1.8B global dairy flavors segment, as well as the $3.2B savory flavors segment. Revela, a portfolio company of New Heritage Capital since 2019, has delivered rapid growth, driven by its innovative enzyme technology, which powers a broad range of clean-label dairy flavor formulations for multiple applications, from snacks and frozen meals to sauces, dressings, soups, seasonings and desserts. Revela’s approximately 400 colleagues operate three state-of-the-art production facilities in the U.S. Midwest,” ADM stated. Ian Pinner, president of ADM’s Nutrition business, added: “Our flavors business is an important pillar of our Nutrition growth strategy, and we are continuing to add to our flavors pantry to ensure we remain the partner of choice for customers around the globe.” The acquisition is subject to customary closing conditions and regulatory approvals. ADM intends to complete the transaction early in 2024.