ADM buys remaining stake of Toepfer International
Archer Daniels Midland Company (ADM) has completed the acquisition of the remaining minority stake of Alfred C. Toepfer International, and is working on integrating Toepfer's operations into ADM's.
"The completion of the Toepfer acquisition is an important step for ADM's Agricultural Services division to become a full value chain from origination to destination," said Joe Taets, senior vice president and president, Agricultural Services. "We can now fully combine ADM's integrated supply chain, global origination network and risk-management expertise with Toepfer's strong global marketing and distribution capabilities."
Since 2002, ADM has owned 80% of Toepfer; through the latest transaction, ADM acquired the remaining stake from Union InVivo for US$113.28 million.
Toepfer is a global merchandiser of agricultural commodities and processed products, through its network of 37 offices worldwide. Toepfer also operates inland, river, and export facilities in Argentina, Bulgaria, Canada, Hungary, Romania, Ukraine, and the United States.
