Grain merchant sold to US agribusiness giant

Lincolnshire grain merchant Gleadell is set to sold to US agribusiness grop Archer Daniels Midland (ADM).

ADM will buy up the remaining 50% of shares it doesn’t already own in Gainsborough-based Gleadell in the first quarter of the year.

The deal will also see ADM take control of Gleadell subsidiary Dunns (Long Sutton).

ADM says it will merge Gleadell and Dunns with its UK businesses ADM Arkady and ADM Direct UK to create ADM Agriculture.

A statement from ADM said: ““The transaction will increase ADM’s origination, storage and destination marketing capabilities in the UK.”