Miller Milling Co, subsidiary of Tokyo-based Nisshin Flour Milling Inc, announced the purchase for $215 mln of four mills from Horizon and ConAgra that will turn Miller into the fourth-largest U.S. miller. The purchase, which requires U.S. approval, is expected to be finalized in May. “In its announcement…Nisshin recognized that the milling industry in the U.S. is entering a significant reorganization stage, said Feedstuffs.
The sale of the mills by Horizon and ConAgra “is seen as pivotal in allowing an even larger transaction to move forward — the creation of Ardent Mills,” says World-Grain. Ardent Mills would operate 40 mills. ConAgra and Horizon put the four mills on the market to remove regulatory concerns about the joint venture that was announced more than a year ago. Nisshin is the largest flour milling company in Japan.