Acquisition to strengthen nut supply in South Africa.
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, says Greg Mills, president, Golden Peanut and Tree Nuts. 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 countrys leading purchasers and processors of peanuts.
In late 2013, Golden Peanut entered the South African peanut market with the purchase of an 80 per cent ownership stake in a bulk warehouse and a shelling plant in Hartswater. In August 2014, the company acquired the majority of an additional processing facility in Hoopstad.
This purchase continues to strengthen our position to better serve our customers in South Africa and around the world, says 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 tonnes. Golden Peanut and Tree Nuts is expanding to meet customer needs as global demand grows.
Golden Peanut and Tree Nuts (Golden), a subsidiary of Archer Daniels Midland Company , has announced that it has acquired an 80 percent ownership stake in a peanut shelling and storage facility in Jan Kempdorp, South Africa. Golden had been operating the facility under lease since May.
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