ADM To Acquire Revela Foods, UK-Based FDL


Chicgo — ADM is adding to its flavors capabilities with an agreement to acquire Revela Foods, a Wisconsin-based developer and manufacturer of dairy flavor ingredients and solutions, and UK-based FDL, a developer and producer of premium flavor and functional ingredient systems.

Revela, with projected sales of almost $240 million in 2023, would add new capabilities to ADM’s global flavors portfolio in the $1.8 billion global dairy flavors segment, as well as the $3.2 billion savory flavors segment. Revela, a portfolio company of New Heritage Capital since 2019, has delivered rapid growth, driven by its enzyme technology, which powers a broad range of clean-label dairy flavor formulations for multiple applications, including snacks and desserts. Revela operates three production facilities in the U.S. Midwest.

“Revela has built a strong business around its unique range of dairy flavor ingredients and solutions for customers spanning major brands, retailers and food service,” says Calvin McEvoy, ADM president of global flavors. “ADM has a strong presence in the North America savory flavors segment, and we’re excited to work with the impressive Revela team to expand our opportunities there, bringing their technology and innovation together with our global capabilities to power our unparalleled range of ingredients and complete solutions for customers who are looking for great flavors and clean labels.”

“We are excited to partner with ADM to further Revela’s reputation as an innovative, turnkey provider of dairy flavor ingredients and solutions,” says Terry Schneider, Revela CEO. “We believe joining the ADM family will allow us to offer even broader solutions to our customers and will provide our employees with even greater opportunities for advancement.”

“ADM’s integrated business model and unparalleled production and product application expertise power a portfolio of customizable, complete nutrition solutions that no other company can match,” says Ian Pinner, president of ADM’s Nutrition business. “Our flavors business is an important pillar of our Nutrition growth strategy, and we are continuing to add to our flavors pantry to ensure we remain the partner of choice for customers around the globe.”

FDL, with projected 2023 sales of approximately $120 million, operates three production facilities and two customer innovation centers, all in the UK. The company has more than 10,000 proprietary flavor formulations.

“Our ongoing investments to add to our flavors portfolio are helping power our strategic work to build a global leader in Nutrition,” says McEvoy. “FDL’s innovative and agile formulation knowledge, deep end-use applications expertise, and strong customer base make them a great addition to ADM’s global flavor capabilities. We are incredibly impressed by the FDL team, and we believe both companies will benefit from each other as we work to expand our reach in key channels, particularly foodservice.”

Eric Beatty, CEO of FDL, says: “We are excited to enter into this agreement with ADM. They’re an ideal partner for us, with global nutrition and flavor capabilities that will provide new opportunities to strengthen FDL’s portfolio of taste and nutrition solutions. In turn, the FDL team looks forward to helping add to ADM’s broad offerings with our diverse portfolio of flavor and functional ingredient systems, IP, and capabilities, as well as the entrepreneurial spirit and innovativeness of human talent that has enabled FDL to become a differentiated market leader today. ADM is synonymous with the best in animal and human nutrition, and together, we look forward to delivering new and innovative ingredient solutions to our global customer base in the food and beverage industry.”

Both acquisitions are expected to be completed by early 2024.