The venture was initially announced in March, 2013 but has faced several hurdles that have delayed its formation, including financial difficulties and monopoly concerns. The US Department of Justice cleared the deal last week on the condition ConAgra Mills, a subsidiary of ConAgra Foods, and Horizon Milling, a joint venture between Cargill and CHS, sold four ‘competitively significant’ mills.
“This is a proud day for our employees and customers who have supported Ardent Mills during every step in this process as we begin a new era in grain,” said Dan Dye, CEO of the new flour-milling venture.
He said the venture would benefit from the collective strength and history of the companies involved.
Bill Stoufer, chief operating officer and chief integration officer at Ardent Mills, said: “There is an excitement and energy among our employees to deliver quality ingredients rooted in sustainability, health and wellness, and aligned with the latest food trends.”
Ardent Mills comprises 40 mills, three bakery mix facilities and a specialty bakery and will be headquartered in Denver. ConAgra and Cargill each own a 44% stake and CHS owns 12%.