ADM unit Golden Peanut and Tree Nuts buys 80% stake in South African peanut facility

Brilliant Peanut and Tree Nuts, a unit of Archer Daniels Midland Company (ADM), has bought a 80% stake in a nut shelling and storage space in Jan Kempdorp, South Africa.

The auxiliary had been working the office under rent since May 2015.

The monetary subtleties of the exchange have not been revealed.

Brilliant Peanut and Tree Nuts president Greg Mills said: "This is one more interesting development for Golden Peanut and Tree Nuts in one of the main nut delivering and consuming districts on the planet.

"South Africa has the biggest utilization of peanut butter outside of the United States, and following on our South African interests in 2013 and 2014, we are presently situated as one of the nation's driving buyers and processors of peanuts."

Brilliant Peanut forayed into the South African nut market in 2013, with the obtaining of a 80% stake in a mass stockroom and a shelling office in Hartswater.

Last August, the firm purchased a greater part stake in an extra handling plant in Hoopstad.

Brilliant Peanut and Tree Nuts VP of worldwide deals Alex Izmirlian said: "This buy keeps on reinforcing our situation to all the more likely serve our clients in South Africa and all over the planet.

"Beginning around 1990, overall utilization of peanuts has almost multiplied, from 22 million to 40 million metric tons. Brilliant Peanut and Tree Nuts is extending to address client issues as worldwide interest develops."

Brilliant Peanut and Tree Nuts is a main overseer, processor and exporter of peanuts and tree nuts with central command in Alpharetta, Georgia, US. It has ten handling offices in the US, and one in Argentina Nuts and Seeds Market.

In South Africa, it is the greater part proprietor of nut handling plants in Hartswater, Hoopstad and Jan Kempdorp, and has 51% stake in walnut processor and advertiser GPC Pecan SA.

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