Princes teams up with US conglomerate

NORTH West food and drink group Princes has agreed a joint venture with US conglomerate Archer Daniels Midland (ADM).

The two companies expect the deal to improve sales to European retail and wholesale customers.

Under the terms of the agreement ADM will produce bottled oil at its facility in Poland while Princes will handle the sales, marketing and distribution for central and Eastern Europe.

It is the same business model that Princes – which has its headquarters in Liverpool and is owned by Japanese conglomerate the Mitsubishi – used to set up Edible Oils with ADM in 2005.

Princes’ managing director Ken Critchley said: “Princes currently manufactures food and drink products across 10 production sites, and part of our forward strategy is to further expand into mainland European markets where we believe opportunities for growth exist.

“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.”