Archer Daniels Midland Company intends to acquire a Casablanca, Morocco-based corn wet mill from Tate & Lyle.
“The Morocco plant, which serves both global and regional customers in the food, feed, paper and corrugated board industries, is a great addition to our global sweeteners and starches footprint,” said Chris Cuddy, president of ADM’s Corn Processing business unit, in a media statement issued Feb. 8. “The facility is the leading sweetener and starch supplier in a country that should see substantial demand growth in the coming years. It is well-positioned to serve Moroccan customers as well as Mediterranean export markets. This also represents an opportunity to help introduce a wider range of ADM food and feed ingredients to the Moroccan market.”
The acquisition is subject to regulatory approval. ADM expects the deal to close during the first half of 2016.