Banking & Finance September 10, 2018 8:33:16 pm

ADM completes Rodelle acquisition, pays $13.19M for HQ, land

Archer Daniels Midland Co. paid $13.19 million for the Rodelle Inc. headquarters at 3461 Precision Drive in Fort Collins, along with adjacent land. Photo: Chad Collins

By BizWest Staff

FORT COLLINS — Chicago-based Archer Daniels Midland Co. has closed on its acquisition of Fort Collins-based Rodelle Inc., including a $13.19 million purchase of Rodelle’s Fort Collins headquarters and adjacent land.

ADM in July announced plans to acquire Rodelle, an originator, processor and supplier of vanilla products. That purchase closed in late August, along with the acquisition of the 60,961-square-foot Rodelle headquarters building at 3461 Precision Drive in the Harmony Technology Park and a 1.93-acre adjacent piece of land at 3527 Precision Drive.

The properties were purchased from CBI Real Estate Holdings LLC. The headquarters building was built in 2008 and expanded in 2014, and includes laboratory space for testing and research and development.

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“ADM offers customers a best-in-class portfolio of food and beverage ingredients and solutions, and now, with the addition of Rodelle, we’re adding another great piece to our capabilities,” Scott Olstad, president of ADM’s North American WILD Flavors business, said in a prepared statement. “Rodelle is a well-known and well-respected brand, with a great reputation for high-quality vanilla and other products. We’re particularly excited about its unique supply chain, which allows us to bring to our customers a range of certified organic and natural vanilla products unmatched in the industry.”

Rodelle was founded in 1936 and recorded 2017 sales of approximately $40 million. The company employs 70 people in Fort Collins.

Jackie Anderson, an ADM spokeswoman, said the company plans to “run Rodelle’s Fort Collins facility with no major changes to its operations. The Rodelle team has built a great business that is well positioned to meet increasing customer demand in the growing market for great flavors that are organic and sustainable. We’re looking forward to combining Rodelle’s operations and products with our own to provide customers an even broader array of products and services, and to grow together.”