ADM, a global leader in human and animal nutrition, announced it is adding to its flavors capabilities with an agreement to acquire Revela Foods, a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions.
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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, as well as 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 broad range of clean-label dairy flavor formulations for multiple applications, from snacks and frozen meals to sauces, dressings, soups, seasonings and desserts. Revela’s approximately 400 colleagues operate three state-of-the-art production facilities in the US Midwest.
ADM is continuing 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. 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 acquisition is subject to customary closing conditions and regulatory approvals. ADM intends to complete the transaction early in 2024.
