Archer-Daniels-Midland to put 11 U.S. feed mills into joint venture, reducing costs and simplifying portfolio. ADM plans to cut costs by $500 million to $700 million over three to five years, eliminating jobs and downsizing operations.

ADM forms animal-feed joint venture with Alltech, contributing 17 U.S. feed mills. Alltech contributes 17 U.S. feed mills and 15 Canadian feed mills. Alltech will be majority owner, joint venture governed by board with equal representation from both companies.

Joint venture aims to diversify ADM’s animal nutrition business into higher-margin specialty ingredients. Internal investigation found improper sales recording in nutrition segment. Transaction expected to launch in first quarter of 2026, excluding ADM’s feed mills in Mexico and other regions.

Read more at Yahoo Finance: ADM to put US feed mills into joint venture as it cuts costs