Courtesy of Benzinga.
Bloomberg reported Thursday morning citing people familiar with the matter as saying that U.S. food processor, Archer Daniels Midland (NYSE: ADM) is nearing a $3.4 billion deal with Switzerland-based Wild Flavors.
According to the source, Archer Daniels Midland outbid Ajinomoto Co., a Japanese-based competitor.
The acquisition of Wild Flavors, which had sales of 838 million euros in 2012, would help Archer Daniels Midland meet the growing demand for more natural ingredients used in its products, according to the article.
Currently, New York-based Kohlberg Kravis Roberts & Co. owns 35 percent of Wild Flavors with the rest belonging to Hans-Peter Wild.
