ADM subsidiary acquires stake in peanut shelling facility in South Africa

GOLDEN Peanut and Tree Nuts, a handler, processor and exporter of peanuts and tree nuts, has acquired majority stake in a peanut shelling and storage facility in Jan Kempdorp, South Africa.

The company assumed 80% ownership of the said facility which has been under its operation since May 2015. The strategic step, which was started in 2013, expands the company’s capacity as it aims to be recognized in the global market. In 2014, the company also acquired the majority of another processing facility in Hoopstad.

“This is yet another exciting expansion for Golden Peanut and Tree Nuts in one of the most important peanut producing and consuming regions in the world. South Africa has the largest consumption of peanut butter outside of the United States, and following on our South African investments in 2013 and 2014, we are now positioned as one of the country’s leading purchasers and processors of peanuts,” said Greg Mills, President, Golden Peanut and Tree Nuts.

“This purchase continues to strengthen our position to better serve our customers in South Africa and around the world,” added Alex Izmirlian, vice president of international sales for Golden Peanut and Tree Nuts. “Since 1990, worldwide consumption of peanuts has nearly doubled, from 22 million to 40 million metric tons. Golden Peanut and Tree Nuts is expanding to meet customer needs as global demand grows.”

A subsidiary of Archer Daniels Midland Company (NYSE: ADM), Golden Peanut is headquartered in Alpharetta, Georgia.