ADM agrees to acquire Florida Chemical Company from Flotek.
Archer Daniels Midland Company (ADM) has announced that it had reached an agreement to acquire Florida Chemical Company (FCC), a division of Flotek Industries specializing in citrus-based flavors and fragrances, and one of the world’s largest providers of citrus oils and ingredients.
The deal, which requires regulatory approval, is expected to close in the first quarter of 2019. When the transaction is complete, FCC’s approximately 75 employees will transfer to ADM.
Based in Winter Haven, Florida, FCC produces a wide range of high-value citrus flavor ingredients, specialty terpenes and formulated products primarily for the flavor, fragrance and consumer products markets. Their innovative, high-quality on-trend products match consumer preferences for natural, clean label and reduced sugar foods and beverages.