Agricultural products retailer Archer-Daniels-Midland Co. is set to boost its flavor portfolio by acquiring Florida Chemical Co. Inc., which specializes in citrus-based flavors and fragrances.
The deal is expected to close in the first quarter of 2019, subject to regulatory approval.
The financial terms of the transaction were not disclosed, though Archer Daniels said it will absorb about 75 Florida Chemical employees upon deal close, according to the Jan. 11 news release.
Florida Chemical is one of the world’s largest providers of citrus oils and ingredients and is a division of Flotek Industries Inc.
In August 2018, Archer Daniels completed its acquisition of vanilla products company Rodelle Inc.