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ADM announced this week it has agreed to buy Revela Foods, a Wisconsin-based developer and manufacturer of dairy flavor ingredients.
Revela, with projected sales of almost $240 million in 2023, will add new capabilities to ADM’s global flavors portfolio.
Worldwide, the dairy flavoring industry is estimated at $1.8 billion, with savory flavors at $3.2 billion.
Headquartered in Chicago, ADM — with operations in Cedar Rapids — has 120 ingredient manufacturing facilities and some 40,000 employees in 170 counties.
Revela, a New Heritage Capital company since 2019, has grown rapidly, driven by an innovative enzyme technology that creates “clean-label” dairy flavors used in snacks, frozen meals, sauces, dressings, soups, seasonings and desserts, ADM said in a news release.
Revela has 400 employees and operates three production facilities in the Midwest.
“ADM has a strong presence in the North America savory flavors segment, and we’re excited to work with the impressive Revela team to expand our opportunities there,” said Calvin McEvoy, ADM’s president of global flavors, said in a news release.
The acquisition adds to ADM’s portfolio of flavor ingredients, a key component in the company’s nutrition business.
Since acquiring Wild Flavors in 2014, ADM has acquired Eatem Foods, a producer of savory flavors; Florida Chemicalo and Erich Ziegler Citrus for citrus flavors; and Rodelle for its vanilla flavors.
The company also expanded its flavors capabilities globally with acquisitions like Flavor Infusion South America. It invested in a Pinghu, China, flavor production facility, expanded its Berlin flavor facility and is growing its network of innovation centers in Europe, Asia, Latin America and North America, according to a news release.
“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,” Ian Pinner, president of ADM’s nutrition business, said in a statement.
The acquisition is subject to regulatory approvals. ADM intends to complete the transaction in early 2024.
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