STAT Communications Ag Market News

Ardent Buying Hinrichs Trading

DENVER - Feb 25/21 -SNS -- Ardent Mills intends to buy substantially all of the business operations of Hinrichs Trading Company, which specializes in sourcing, cleaning and packing chickpeas for domestic and export markets.

Ardent said the decision was driven by its desire to "further invest in specialty ingredient capabilities and diversify its portfolio of solutions, building upon its existing wheat flour business."

The transaction is expected to close in April for an undisclosed amount.

Phil Hinrichs, CEO of Hinrichs Trading Company said, "We were looking for a partner that had the expertise to take the chickpea market to the next level and provide new opportunities for our team members and our growers. (Ardent Mills) brings operational and technical expertise, access to new markets, and the ability to scale quickly and sustainably"

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