Archer Daniels To Buy Specialty Commodities For $170 Mln

(RTTNews) - U.S. grain processor Archer Daniels Midland Co. (ADM) has agreed to buy Specialty Commodities Inc., for $170 million.

Specialty Commodities processes and distributes healthy, natural and organic ingredients including nuts, fruits, seeds, legumes and ancient grains.

"One of the ways we are improving returns and reducing the volatility of our earnings is through the expansion of our specialty ingredients portfolio," said ADM Chairman and CEO Patricia Woertz.

SCI is majority owned by Goldner Hawn Johnson & Morrison.

ADM expects to close deal in the coming weeks, subject to regulatory approvals. Specialty Commodities will become part of ADM's new WILD Flavors and Specialty Ingredients business unit.