ADM to Acquire Wheat Processor, Chamtor
Archer Daniels Midland (ADM) announced that it has been granted exclusive priority for the proposed acquisition of French wheat processor, Chamtor from its current owner, Vivescia Industries.
Founded in 1992, Chamtor processes wheat into glucose, starch, and proteins, and will enhance ADM’s ability to provide sweeteners and starches to the Western European market, which accounts for 70 percent of the overall European market.
ADM has already bulked up its sweetener and starch portfolio in Eastern Europe, acquiring full ownership of corn wet mills in Bulgaria and Turkey, and a 50 percent stake in a wet mill in Hungary in 2015. Last year, ADM added a sweetener and starch facility in Morocco to its portfolio and announced that it planned to expand the recently acquired plants in Eastern Europe.