Princes and ADM join forces in Poland
13 Jul 2010
This joint venture company will follow the same business model as Edible Oils Limited (EOL), United Kingdom, which Princes and ADM formed in 2005. EOL combines Princes’ sales and marketing expertise with ADM’s supply chain strengths to provide strong supply and category support for major European retail and wholesale customers.
The two companies also signed an agreement to expand distribution of bottled edible oil in Poland.
Under the terms of the agreement, ADM will continue to source, refine and produce bottled oil at its facility in Szamotuly, and beginning the 7th of July 2010, Princes will manage sales, marketing and distribution of the bottled oil to increase the company’s support for retail and wholesale customers in Poland and Central and Eastern Europe.
Ken Critchley, Managing Director, Princes Limited, said: “Princes currently manufactures food and drink products across ten production sites, and part of our forward strategy is to further expand into mainland European markets where we believe opportunities for growth exist. Our new operations in Poland will offer retail and wholesale customers quality products, coupled with brand and category management expertise.
Poland represents a particularly strong market for us and we are planning further expansion in the country over the next few years. ADM is an established partner that brings significant strength to our retail proposition and we have exciting plans to grow with them in the coming years.”
Brent Fenton, ADM Managing Director, European Oilseeds said: “The joint venture will enable ADM to leverage its extensive oilseed processing capabilities and origination network. Together with Princes, and their experience in brand and category management, we are ideally positioned to maximise opportunities in the Polish market.”
Princes and ADM expect their new partnership in Poland to help retailers and wholesalers further develop the edible oils category and drive volume and value. It will also create new opportunities for both branded and private label sales.