Golden Peanut and Tree Nuts, a subsidiary of Archer Daniels Midland (ADM), has acquired 80% stake in peanut shelling and storage facility in Jan Kempdorp, South Africa.
The company has been operating the unit on lease basis since May.
Golden Peanut and Tree Nuts president Greg Mills said: "This is yet another exciting expansion for Golden Peanut and Tree Nuts in one of the most important peanut producing and consuming regions in the world.
"South Africa has the largest consumption of peanut butter outside of the United States, and following on our South African investments in 2013 and 2014, we are now positioned as one of the country's leading purchasers and processors of peanuts."
Golden Peanut and Tree Nuts vice president of international sales Alex Izmirlian said: "This purchase continues to strengthen our position to better serve our customers in South Africa and around the world. Since 1990, worldwide consumption of peanuts has nearly doubled, from 22 million to 40 million metric tons. Golden Peanut and Tree Nuts is expanding to meet customer needs as global demand grows."
Golden Peanuts entered the South African market in 2013 by acquiring 80% stake in a bulk warehouse and a shelling plant in Hartswater. In 2014, it acquired a majority stake in additional processing factory in Hoopstad.
Golden Peanuts owns 10 processing units in the US and one in Argentina. In South Africa, Golden Peanut owns majority stake of peanut processing plants in Hartswater, Hoopstad and Jan Kempdorp. It also owns 51% stake in pecan processor and marketer GPC Pecan S.A.
