KENYA – Archer Daniels Midland (ADM), a global leader in food processing and agriculture, has officially opened a new office and advanced laboratory in Nairobi as part of its 10th anniversary in Kenya.
This move strengthens ADM’s presence in East Africa, emphasizing innovation in beverage and food applications as well as animal nutrition.
The newly established laboratories are designed to boost research and development, focusing on tailored solutions for local markets, including beverages, alternative proteins, and animal feed.
ADM’s CEO, Juan Luciano, underscored the importance of the expansion, stating that the company is well-positioned to leverage global market opportunities. Kenya, a growing hub for food technology and agriculture, offers a fertile ground for ADM to continue innovating in areas like plant-based foods and sustainable nutrition.
The expansion aligns with ADM’s strong financial performance. In 2023, the company reported robust earnings, including full-year earnings per share (EPS) of US$6.43, with adjusted EPS reaching US$6.98.
ADM also initiated a US$2 billion share repurchase plan, highlighting its dedication to enhancing shareholder returns. The company’s adjusted operating profit for the year was US$6.24 billion, with an average return on invested capital of 12.2% across the trailing four quarters.
The fourth quarter of 2023 alone saw earnings per share of US$1.06, despite US$171 million in restructuring charges.
The new Kenyan office is part of ADM’s broader strategy to deepen its foothold in Africa. Earlier in 2024, ADM acquired Comhan, a South African flavor distributor, complementing other investments in alternative flavor production across its global portfolio, including facilities in China, Germany, and the U.S.
The milestone comes after the Business Intelligence Group (BIG) recently named ADM the winner of the 2024 Sustainability Leadership Award.
This recognition is part of the BIG Sustainability Awards program, which celebrates organizations and individuals demonstrating a profound commitment to environmental responsibility and sustainable practices.
Alison Taylor, ADM’s Vice President and Chief Sustainability Officer, expressed her gratitude for the accolade.
“We are honored to be in such great company on this impressive list of sustainability leaders,” Taylor said. “
She explained that sustainability is truly a foundation of purpose and a pillar of ADM’s growth strategy, and this award reflects that commitment.
“Sustainable practices and environmental responsibility are integral to our work every day to serve customers across the many value chains in which we operate, and we are proud to leverage our expertise to enrich the quality of life and support a healthier planet.”
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