Archer Daniels Midland Company said on Friday it bought the remaining minority stake of Alfred C. Toepfer International for 83 million euro ($113.25 million), and will integrate Toepfer's operations into its own.
"We can now fully combine ADM's integrated supply chain, global origination network and risk-management expertise with Toepfer's strong global marketing and distribution capabilities," Joe Taets, senior vice president and president Agricultural Services, said in a statement.
Since 2002, ADM had owned 80 percent of Toepfer. Through Friday's transaction, ADM acquired the remaining stake from Union InVivo.ADM buys remaining 20% stake of Toepfer
Toepfer is a global merchandiser of agricultural commodities and processed products, through its network of 37 offices worldwide. Toepfer also operates inland, river, and export facilities in Argentina, Bulgaria, Canada, Hungary, Romania, Ukraine, and the United States.
ADM has 31,000 global employees that process oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses. It has more than 270 processing plants, 470 crop procurement facilities, and a world crop transportation network.