Bunge buys Heartland Harvest to service ‘better for you snacks’ demand

By Ben BOUCKLEY

- Last updated on GMT

Bunge CFO Drew Burke speaking at CAGNY in New York today
Bunge CFO Drew Burke speaking at CAGNY in New York today

Related tags Starch Maize Business

Bunge North America has bought Illinois-based Heartland Harvest to bolster its expertise in extruded foods and serve consumer demand for better-for-you snacks.

Heartland Harvest, which Bunge describes as a North American leader in its space, manufactures die-cut pellets used to make extruded foods in its facility in Kankakee, Illinois. The pellets are expanded by popping, baking or frying.

Wade Ellis, general manager, Bunge Milling, said: “Consumer demand for innovative and healthier foods is growing and Heartland Harvest ingredients can be used to make better-for-you snacks.

“This facility also has the flexibility to use starches such as ancient grains and sweet potatoes as well as corn, rice and potatoes, expanding the product portfolio we can offer our customers,”​ he added.

Bunge reveals appetite for M&A at CAGNY 2015

Bunge has net sales of $58bn and operates in 40+ countries. Today CEO Soren Schroder and CFO Drew Burke (pictured) presented at the Consumer Analyst Group of New York (CAGNY) conference in New York, where Burke signaled the company's M&A ambitions.

He said the multinational agribusiness and food company spent $39m in 2014 on "filling gaps"​ in its agribusiness and expanding its Food & Ingredients business.

"We're still very focused in doing bolt-on acquisitions in the food business, so we expand our profit stream from that business and take advantage of the synergies we can leverage with the agribusiness,"​ Burke told conference delegates.

Bunge did not disclose the price paid for Heartland Harvest.

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