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ADM closes on flavor company purchase amid accounting probe

ADM closes on flavor company purchase amid accounting probe
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United statesUnited kingdomVikram lutharDavid gregorioFuerst day lawson ltdCo onExchange commissionChief financial offer vikram lutharRevela foods

ADM closes on flavor company purchase amid accounting probe

Global grains merchant Archer-Daniels-Midland Co on Wednesday closed on its purchase of Fuerst Day Lawson Ltd , a U.K.-based company that develops flavors and produces specialty ingredients.

United kingdomUnited statesVikram lutharDavid gregorioCo onFuerst day lawson ltdExchange commissionChief financial offer vikram lutharRevela foods

ADM closes on flavor company purchase amid accounting probe

Global grains merchant Archer-Daniels-Midland Co on Wednesday closed on its purchase of Fuerst Day Lawson Ltd (FDL), a U.K.-based company that develops flavors and produces specialty ingredients for food-service customers in Europe, an ADM spokesperson told Reuters. The deal, announced in December, is the latest move by ADM to expand its Nutrition segment, the same unit that is under scrutiny as the 122-year-old company faces a government inquiry and internal investigation. Shares of ADM last week plunged to their biggest daily drop since 1929, after Chief Financial Offer Vikram Luthar was placed on administrative leave and the company brought in outside lawyers to investigate accounting practices at its Nutrition segment.

United kingdomUnited statesDavid gregorioVikram lutharExchange commissionFuerst day lawson ltdCo onChief financial offer vikram lutharRevela foods