Wild Flavors and Specialty Ingredients, new ADM’s business unit

Archer Daniels Midland Co. will form a new business unit called Wild Flavors and Specialty Ingredients now that it has completed the acquisition of Wild Flavors GmbH, Chicago-based.

The new business unit will be a reportable segment beginning Jan. 1.

About the team, Greg Morris, recently ADM’s president of North American Oilseeds Processing, will become president of Wild Flavors and Specialty Ingredients.

Vince Macciocchi, currently Wild North American chief operating officer, will become global president, Wild Flavors. Mike Ponder, currently Wild’s chief executive officer, recently announced his retirement and will join Hans-Peter Wild, former majority owner of Wild Flavors GmbH, on an advisory board.

ADM originally announced the all-cash transaction valued at about EUR2.3 billion, on July 7. ADM will pay EUR2.2 billion to Wild Flavor shareholders Dr. Wild and funds affiliated with Kohlberg Kravis Roberts & Co. L.P., and ADM also will assume about EUR100 million of net debt.

The new Wild Flavors and Specialty Ingredients business unit will include the Wild business and the following ADM product lines: specialty proteins, emulsifiers, edible beans, natural health and nutrition, soluble fiber, polyols, and hydrocolloids.

“Greg and Vince are responsible for ensuring that Wild Flavors’ recipe for success continues,” said Patricia Woertz, chairman and c.e.o. for ADM, on Oct. 1. “Dr. Wild has built a great company, and we intend to support Wild’s innovative, entrepreneurial culture. Between our global networks, tremendous innovation capabilities, great teams and extensive product lines from both ADM and Wild, we now have one of the world’s leading flavors and specialty ingredient companies. We are excited about offering complete food and flavor solutions to our customers around the globe.”