Archer Daniels Midland (ADM) has agreed to acquire oil bottling company AOR for an undisclosed amount.
Subject to regulatory approvals, the acquisition is in line with the company's strategy to increase returns by optimising its core businesses and expanding strategically.
AOR bottles and distributes edible oils in Europe with customers across the continent, with particular strength in north-west Europe, including Belgium, the Netherlands and Luxembourg. It offers its products under Oilio and Coroli brands.
Based in Antwerp, Belgium, AOR owns a fully automated warehouse and operations on the water at the Port of Antwerp and has a substantial export business.
With this acquisition, ADM will be able to expand its product offerings and customer base in Europe by entering the continental retail and food service markets.
ADM will now have an enhanced ability to internationally export value-added products.
Commenting on the acquisition, ADM Oilseeds Processing business president Matt Jansen said: "AOR is a leading company in the European packaged oils industry. It is a bolt-on acquisition that can be fully integrated into our operations and offers excellent opportunities for profitable growth.
"The AOR business represents growth into new markets, as well as new, higher-margin demand for the oils produced by our European operations."
ADM employs more than 33,000 people across 140 countries. The company has more than 460 crop procurement locations, 300 ingredient manufacturing facilities and 40 innovation centres.