Business and Operations
Ardent Mills completes acquisition of Hinrichs Trading Company assets
By Bakers Journal
Ardent Mills announced that it has successfully completed the acquisition of substantially all of the assets of Hinrichs Trading Company (HTC), the North American chickpea sourcing, cleaning and packaging company.
In February, Ardent Mills’ announced their intention to acquire HTC, citing aligned ingredient capabilities and close grower connections. Ardent Mills aims to meet growing consumer demand for pulse and plant-based ingredients.
The acquisition enables Ardent Mills to leverage HTC’s strong connection to producers, expertise in seed varieties, and finished products processing, and combine it with Ardent Mills’ insights, risk management and R&D resources. With this addition, Ardent Mills can now offer complete field-to-formulation solutions for customers.
“We are very pleased to reach today’s milestone and to welcome the talented Hinrichs Trading Company team to the Ardent Mills family,” said Dan Dye, CEO, Ardent Mills in a statement. “Together, we will bring nutritious grain-based and specialty ingredient solutions to our customers and help further nourish our communities.”
“Hinrichs Trading and the Hinrichs family feel that the Ardent Mills’ team will help move the pulse industry above and beyond all expectations we have had for our farmers and our customers,” said Phil Hinrichs, CEO, Hinrichs Trading Company in the same press release.