DECATUR, IL - Archer Daniels Midland Co. said it plans to acquire a soybean crushing and biodiesel facility in Deerfield, Mo., from Prairie Pride Inc. ADM will also form a partnership with Prairie Pride for the biodiesel portion of the business.
"The acquisition of Prairie Pride's soybean facility and partnership for the biodiesel business were attractive to us because they are aligned with our growth strategy and fit well within our integrated business model," said Matthew J. Jansen, president of Global Oilseeds.
Prairie Pride is a producer cooperative formed to convert soybeans into biodiesel fuel and soy meal. The facility began producing biodiesel in late 2007.
ADM, a major agricultural processor, converts corn, oilseeds, wheat and cocoa into products for fuel, food, animal feed and chemicals.