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July 7, 2014
10:05 EDTADMArcher Daniels sees WILD sales to reach EUR 1B in 2014
The company expects the estimated 2014 combined revenue to be $2.5B; Sees EUR 100M in estimated synergies by year three. Sees global specialty food ingredient market to worth $100B by 2023. Expects global demand for soy, dairy and other plant-based protein ingredients to grow 5.6% between 2013-2018. Because of the transaction, the company will reduce its 2014 CapEx to $900M from $1.2B. It will continue its 18M share buyback target by year end and said its credit rating will not be affected. Comments taken from slides for conference call to discuss the acquisition of WILD Flavors GmbH.
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