ADM eyes ways to expand reach

Reuters / After passing on Viterra, Archer Daniels Midland is now eyeing acquisitions of smaller assets in North America.

“Other than one-off deals, we can’t really grow too much in North America,” said A. James Shafter, the company’s vice-president of mergers and acquisitions.

“We’ll always do one-off deals. Elevator assets, transportation assets, if it’s in our sector, we’ll look at it.”

Investors such as sovereign wealth funds, endowments, and pension plans have been drawn to agricultural investments over the past decade amid the promise of strong returns as global demand for food grows.

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