Agricultural Supply Chain Company ADM Marks 120 Years
Photo: ADM
ADM, the Archer-Daniels-Midland Company, has marked 120 years in business as an agricultural supply chain leader.
ADM was incorporated on Sept. 30, 1902, in Minneapolis as a regional linseed oil business. Today, ADM with 41,000 employees serving customers in nearly 200 countries – is a global agricultural supply chain manager and processor, a premier human and animal nutrition company, a trailblazer in groundbreaking solutions to support healthier living, a cutting-edge innovator in replacing petroleum-based products, and a leader in sustainability.
“Over the past 120 years, our company has evolved from a regional startup into an irreplaceable leader providing needed nutrition to billions around the globe. We’ve transformed at many moments along the way, but unlocking the power of nature to enrich lives has always been at the heart of everything we do,” said Juan Luciano, chairman and CEO.
“Every day, our 41,000 colleagues demonstrate our purpose and our values, not only by feeding the world, but by building a stronger, better future, whether through innovations in sustainability, or our commitment to the communities where we work and live. I’m proud of the work they’ve done and the journey we’ve taken together, and I’m excited about our bright future.”
To celebrate the milestone, ADM conducted a Fight Hunger Challenge to bring employees together around the world to raise money for hunger relief. As a result, ADM Cares has donated 1.2 million meals in partnership with the World Food Program, Feeding America and Food Banks Canada.
ADM’s founders were an unlikely but fortuitous match. George Archer was a quiet man and a deliberate planner, widely respected for his comprehensive knowledge of the linseed oil industry. John Daniels was outgoing and brash, extremely popular in trade circles and a leader in industry associations. Their distinct personalities made for a formidable combination and, in many ways, created the DNA of the company we are today.
To learn more about ADM’s history, visit https://www.adm.com/en-us/about-adm/our-company/history/.
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SpartanNash Names Crane as VP, Finance/Food Distribution
SpartanNash has named Greg Crane as vice president, Finance/Food Distribution. Crane will serve as finance business partner to Bennett Morgan, senior vice president and chief merchandising officer, and support the Food Distribution leadership team.
Crane’s role, effective June 6, includes leadership over budgeting, forecasting, monthly results analysis and risk and opportunity assessment activities for the Food Distribution business. Additionally, he will provide thought leadership and financial guidance on both broad strategic initiatives and day-to-day opportunities to improve efficiency and reduce company operating expenses.
Crane, a registered CPA, brings more than 15 years of financial and operational experience with skills in financial management, strategic and financial planning, mergers and acquisitions, capital markets and performance optimization. Most recently, he served as the CFO for GHSP, Inc. Before that, he spent nearly six years at Wolverine World Wide in a variety of financial and leadership positions.
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Growth Potential Seen for At-Home Foods Market
Middle market investment banking firm Capstone Partners sees significant growth potential for established brands in the at-home foods market with the recent recapitalization of Uncle John’s Pride, a family-owned producer of branded premium meats in the consumer food and beverage sector.
Capstone advised Uncle John’s Pride on the transaction and says the deal highlights influential trends in the at-home foods market. Following the pandemic-induced spike in at-home dining and a growing consumer emphasis on health, wellness and convenience, demand for high-quality proteins to prepare at home has climbed.
With a host of branded products under multiple banners — including Bean Brothers, Peppino Foods, Realtree and more — and distribution through both retail and foodservice channels such as Walmart, Publix, and Winn-Dixie, Uncle John’s Pride has positioned itself as a premium brand with a strong foothold in the Southeastern United States, according to Capstone. UJP’s established regional platform, blue-chip customer base, premium product portfolio, and proven acquisition history position them well to capitalize on these favorable industry trends and robust consumer demand, making them an attractive target for investment.
“This transaction allowed the UJP shareholders to monetize their initial investment in the company, with a substantial return, while still maintaining a meaningful equity stake,” said Capstone Managing Director Brian Boyle. “Going forward, the company is forecasting rapid growth fueled by powerful consumer trends towards high-protein diets and increased at-home dining trends.”
Financing was provided by Promise Holdings, a consumer-focused private holding company, and specialty finance firms Star Mountain Capital and Maranon Capital. With the investment, Uncle John’s Pride will have the capital and resources necessary to expand beyond its established regional platform and pursue significant growth via additional private labeling.
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