Revela Foods Agrees to Acquisition by Archer-Daniels-Midland
New Berlin’s Revela Foods has agreed to be acquired by Archer-Daniels-Midland Company (ADM), a global leader in human and animal nutrition, headquartered in Chicago.
Revela and its 400 employees produce food flavors, sauces and seasonings in the dairy sector, as well as melted cheeses and cheese spreads. The company has been owned by New Heritage Capital holding company since 2019 and has a projected $240 million in 2023 sales.
“We are excited to partner with ADM to further Revela’s reputation as an innovative, turnkey provider of dairy flavor ingredients and solutions,” added Terry Schneider, Revela’s chief executive officer. “We believe joining the ADM family will allow us to offer even broader solutions to our customers and will provide our employees with even greater opportunities for advancement.”
ADM will add Revela’s capabilities to its global flavors portfolio in the $1.8 billion global dairy flavors segment, as well as the $3.2 billion savory flavors segment. In a press release, the company said Revela’s rapid growth has been driven by its innovative enzyme technology, which powers a broad range of clean-label dairy flavor formulations for multiple applications, from snacks and frozen meals to sauces, dressings, soups, seasonings and desserts.
“Revela has built a strong business around its unique range of dairy flavor ingredients and solutions for customers spanning major brands, retailers and food service,” said Calvin McEvoy, ADM’s president of global flavors. “ADM has a strong presence in the North America savory flavors segment, and we’re excited to work with the impressive Revela team to expand our opportunities there, bringing their technology and innovation together with our global capabilities to power our unparalleled range of ingredients and complete solutions for customers who are looking for great flavors and clean labels.”
ADM did not announce any potential changes that may impact the leadership or employees of Revela.