ADM (NYSE:ADM), a prominent figure in human and animal nutrition, has unveiled plans to bolster its flavors arm through the acquisition of Revela Foods, a Wisconsin-based pioneer in dairy flavor ingredients and solutions. With projected sales nearing $240 million in 2023, Revela's addition is poised to augment ADM's prowess in the $1.8 billion global dairy flavors market, alongside the $3.2 billion savory flavors sector. Fueled by innovative enzyme technology, Revela has garnered attention for its clean-label dairy flavor formulations, catering to a spectrum of applications ranging from snacks to sauces. The company's workforce of around 400 operates three cutting-edge production facilities in the U.S. Midwest.

Calvin McEvoy, ADM's president of global flavors, expressed optimism about the collaboration, stating, "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." Terry Schneider, CEO of Revela, echoed this sentiment, affirming the partnership's potential to broaden solutions for customers and provide enhanced growth prospects for employees.

This move aligns with ADM's strategic vision of fortifying its position as a global nutrition leader. Since the acquisition of WILD Flavors in 2014, ADM has consistently diversified its flavors portfolio through strategic acquisitions and organic investments across the globe. Ian Pinner, president of ADM's Nutrition business, underscored the significance of the flavors business in the company's growth trajectory, emphasizing their commitment to remaining the preferred partner for customers worldwide.

The acquisition is contingent upon customary closing conditions and regulatory approvals, with ADM aiming to finalize the transaction early in 2024.