Archer Daniels Midland Co. (NYSE:ADM) announced that it has reached an agreement to purchase AOR N.V., a privately held oil bottling company based in Antwerp, Belgium. AOR is a leader in the bottling and distribution of edible oils in Europe, with customers across the continent and a substantial export business. Its brands include Oilio® and Coroli®.
“This acquisition will allow us to expand our product offerings and customer base in Europe, offering entry into the continental European retail and foodservice markets and an enhanced ability to export value-added products internationally,” said Matt Jansen, president of ADM’s Oilseeds Processing business. “AOR is a leading company in the European packaged oils industry. It is a bolt-on acquisition that can be fully integrated into our operations, and offers excellent opportunities for profitable growth.
“ADM is continuing to execute on our strategy to increase returns by optimizing our core businesses and expanding strategically,” Jansen added. “The AOR business represents growth into new markets as well as new, higher-margin demand for the oils produced by our European operations.”
The proposed transaction is contingent on regulatory approvals.