KKR exits Wild Flavors in €2.3bn trade sale

ADM, the crop processor, will pay Wild Flavors' majority shareholder, Hans-Peter Wild, and KKR €2.2bn, and assume around €100m as net debt.

ADM stated its acquisition of Wild Flavors is consistent with its long-term strategy to diversify its product portfolio and will meet its return objectives.

Previous funding
In January 2010, KKR acquired a 35% stake in flavours and ingredients business Rudolf Wild, as well as its subsidiaries, to form Wild Flavors. Hans-Peter Wild retained the majority of the company's shares.

Company
Headquartered in Zug, Wild Flavors supplies the food and beverage industry with flavours and ingredients, including fruit juice concentrates and blends, natural flavours and extracts, mint oils and fermentation technologies.

Its management offices are located in Heidelberg-Eppelheim in Germany and Kentucky in the US. Thirteen further production sites are located in Europe, the US, Canada, China, Japan, India, Brazil and Dubai. It has more than 2,000 customers worldwide and estimated 2014 net revenues of approximately €1bn. Together, ADM and Wild Flavors will have sales approaching $2.5bn.

The company's history dates back to 1931.

People
Johannes Huth is head of KKR in Europe, Africa and the Middle East. Patricia Woertz is ADM chairman and CEO. Hans-Peter Wild is majority shareholder in Wild Flavors.

Advisers
Company – Barclays (Corporate finance); Skadden Arps Slate Meagher & Flom (Legal).

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• Topics
• DACH
• Consumer
• Exits
• Trade sale
• Germany
• Switzerland