YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

$900M ADF/IDF deal closes

Posted online

The sale of southwest Missouri businessman Bill Darr’s American Dehydrated Foods and International Dehydrated Foods has closed.

Germany-based Symrise AG closed on the $900 million deal Nov. 4, following approval by the U.S. Department of Justice’s antitrust division, according to a news release.

"We very much look forward to teaming up with ADF/IDF given our shared focus on innovation and meeting customer needs,” Symrise CEO Heinz-Jurgen Bertram said in the release. “Our combined reach will allow us to expand our footprint in the marketplace, particularly in the U.S., and to widen our range of meat and egg-based protein products to our growing customer base.”

Symrise and ADF/IDF jointly announced the acquisition in January.

Symrise now will begin integrating food ingredient providers ADF/IDF into its organizational structure, specifically its nutrition and flavor divisions. The $900 million deal is financed through debt and equity, according to the release.

Darr founded ADF/IDF in 1978, building the meat and egg-based protein provider to annual sales of $220 million in 2018, Springfield Business Journal previously reported.

ADF/IDF, which operates its headquarters at 3801 E. Sunshine St., has roughly 60 employees in Springfield and 500 total, said Bernhard Kott, a spokesman for Symrise. He said the ADF/IDF names would remain, as will the companies’ workforce.

Separate from ADF/IDF, the Darr Family Foundation recently announced it restructured its board and named Erin Danastasio board president. Danastasio is corporate communications manager for ADF/IDF.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Coronavirus Coverage

SBJ compiles news on the respiratory virus outbreak.

Most Read
SBJ.net Poll
How soon do you plan to return to your employer’s office?

View results