Ardent Mills has announced its intention to acquire the operations of US-based chickpea sourcing and processing firm, Hinrichs Trading Company.
Headquartered in Pullman, Washington, Hinrichs is a pulse processing company specialising in the production and processing of chickpea products.
The company currently operates across five locations in Washington and Montana.
The move to acquire ‘substantially all of’ Hinrichs’ business operations is part of Ardent Mills’ strategy to diversify its portfolio of solutions.
The company is looking to further invest in its speciality ingredient capabilities, building upon its existing wheat flour business.
“Ardent Mills and Hinrichs Trading Company share a strong commitment to our growers, customers, team members, communities, and to growth and innovation,” said Dan Dye, CEO of Ardent Mills.
“There is a strong cultural alignment and shared values across both organisations. We look forward to welcoming the talented Hinrichs Trading Company team to the Ardent Mills family.”
Commenting on the prospective partnership with Ardent Mills, Hinrichs Trading Company CEO Phil Hinrichs said: “They bring operational and technical expertise, access to new markets, and the ability to scale quickly and sustainably.
“Hinrichs Trading Company complements that with our extensive chickpea sourcing knowledge and extremely close grower connections.”
Shrene White, general manager of The Annex by Ardent Mills, added: “The plant-based food and beverage market shows no sign of slowing down…This potential venture will enable us to offer diverse chickpea solutions to our customers from day one.”
The parties are undertaking due diligence and expect the deal to close in April 2021.
Last year, Ardent Mills announced that it had agreed to acquire Andean Naturals’ quinoa operations, as it aimed to expand its speciality grain capabilities.
Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021.
© FoodBev Media Ltd 2024
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