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ADM to Purchase Remaining Stake in Gladell From InVivo
USAgNet - 01/18/2019

Archer Daniels Midland Co said on Thursday it had agreed to buy the remaining 50 percent stake in British grain merchant Gleadell it does not already own from French co-operative InVivo.

According to Reuters, Gleadell, based in Gainsborough in eastern England, is one of Britainís largest traders of grains, oilseeds and pulses. Competitors include Cargill CARG.UL and Associated British Foods joint venture Frontier Agriculture and co-operative Openfield.

The deal, which includes Gleadellís wholly-owned subsidiary Dunns (Long Sutton) Ltd, is expected to close in the first quarter, ADM said in a statement.

Terms of the deal were not disclosed. The U.S. group plans to merge Gleadell and Dunns with its British units ADM Arkady and ADM Direct UK to create ADM Agriculture Ltd, it added.

ďThe transaction will increase ADMís origination, storage and destination marketing capabilities in the UK,Ē the statement said, noting Gleadell was a major exporter to European Union markets and further afield.

Key assets include port storage and ship loading operations along with extensive pulse and agricultural seed processing.

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