The acquisition will provide Wild with over $200m in additional annual sales and three ocean-access tank farms in the strategic growth areas of Asia, Europe and North America. The transaction is subject to antitrust approvals.
Michael Ponder, CEO of Wild Flavors, said: “This acquisition is a key step to continually grow a differentiated and integrated supply chain for juices to the benefit of our customers. Cargill’s business will provide improved raw material access while strengthening our existing juice capabilities.
“By broadening our product offering and by providing a truly global supply chain, our customers will profit from Wild Flavor’s unique full-solution approach as the single source of supply for every ingredient needed to produce a high-quality, finished beverage product.”
Paul Naar, head of Cargill’s food ingredients businesses in Europe, said: “Cargill is selling 35 years of experience in the global juice based beverage industry, where it built a strong position in local sourcing, supply chain management, application know-how and reliable, food safe, production.”
Naar continued: “combining with Wild will lead to a bigger scale and add even more capabilities which will create new opportunities for customers.”
Source: Wild Flavors
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