ADM (a global leader in human and animal nutrition) recently announced it is adding to its flavor capabilities with an agreement to acquire Revela Foods, a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions.
Revela (with projected sales of almost $240 million in 2023) would add new capabilities to ADM’s global flavors portfolio in the $1.8 billion global dairy flavors segment and the $3.2 billion 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 wide range of clean-label dairy flavor formulations for multiple applications, from snacks and frozen meals to sauces, dressings, soups, seasonings, and desserts. Revela’s 400 colleagues operate three state-of-the-art production facilities in the U.S. Midwest.
ADM has continued to add to its broad portfolio of flavor ingredients and solutions as it builds a global leader in nutrition. Since acquiring WILD Flavors in 2014, ADM has added multiple new offerings to its flavors portfolio through acquisitions, including savory via Eatem Foods; citrus via Florida Chemical Company and Erich Ziegler Citrus; and vanilla via Rodelle. And the company has also expanded its flavors capabilities globally with acquisitions like Flavor Infusion South America; organic investments like its Pinghu, China, flavor production facility and the expansion of its Berlin flavor facility; and its growing network of innovation centers spanning Europe, Asia, Latin America and North America.
The deal is subject to customary closing conditions and regulatory approvals. ADM intends to complete the transaction early in 2024.
KEY QUOTES:
“Revela has built a strong business around its unique range of dairy flavor ingredients and solutions for customers spanning major brands, retailers and food service. 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, bringing their technology and innovation together with our global capabilities to power our unparalleled range of ingredients and complete solutions for customers who are looking for great flavors and clean labels.”
- Calvin McEvoy, ADM’s president of global flavors
“We are excited to partner with ADM to further Revela’s reputation as an innovative, turnkey provider of dairy flavor ingredients and solutions. We believe joining the ADM family will allow us to offer even broader solutions to our customers and will provide our employees with even greater opportunities for advancement.”
- Terry Schneider, Revela’s chief executive officer
“ADM’s integrated business model and unparalleled production and product application expertise power a portfolio of customizable, complete nutrition solutions that no other company can match. 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
