Ill. agricultural group buys European flavor company for $3B

U.S. agricultural commodities group Archer Daniels Midland said it is buying food flavors and specialty ingredients company Wild Flavors for 2.2 billion euros ($3 billion) in cash and will assume about $136 million of net debt.

Illinois-based ADM will establish a new business unit called Wild Flavors and Specialty Ingredients and expects the deal to complete by the end of the year, according to Fox Business.

The world's sixth-biggested flavor provider, Wld Flavors operates its headquarters in Switzerland.

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