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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Archer Daniels Midland Company | NYSE:ADM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 60.52 | 0 | 01:00:00 |
From Apr 2019 to Apr 2024
By Josh Beckerman
Golden Peanut Co., a unit of Archer Daniels Midland Co. (ADM), is expanding its reach with the purchase of Georgia pecan processor Harrell Nut Co.
The company is also changing its name to Golden Peanut and Tree Nuts.
Golden Peanut, based in Alpharetta, Ga., said the move will help reduce earnings volatility. A Friday statement from Golden Peanut didn't mention terms of the deal.
The transaction marks Golden Peanut's entry into the U.S. pecan market. Earlier this year, it bought a 50% stake of South African Pecans.
Golden Peanut was formed in 1986. It eventually became a joint venture between ADM and Alimenta (USA) Inc., before ADM bought Alimenta in 2011 and became the full owner of the peanut company.
Recent acquisitions in similar categories include TreeHouse Foods Inc.'s (THS) July purchase of Flagstone Foods, a dried fruit, trail mix and nut provider; and J.M Smucker Co.'s September deal for Sahale Snacks Inc., a maker of nut and fruit snacks.
Write to Josh Beckerman at josh.beckerman@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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