Subsequent Events Subsequent Events

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

On October 1, 2014, the Company completed the acquisition of WILD Flavors GmbH (“Wild Flavors”), making the Company one of the world’s leading flavors and specialty ingredients companies. In an all-cash transaction valued at approximately $3.0 billion enterprise value, the Company paid $2.8 billion to Wild Flavors shareholders Dr. Hans-Peter Wild and funds affiliated with Kohlberg Kravis Roberts & Co. L.P., and assumed approximately $0.2 billion of net debt. In addition, the Company incurred $0.1 billion of foreign exhange hedging losses on Euro foreign currency derivative contracts entered into to economically hedge the anticipated Wild Flavors acquisition during the three months ended September 30, 2014. The Company is in the process of obtaining a valuation of the acquired assets and assumed liabilities. The Company will begin consolidating the financial results of Wild Flavors as of October 1, 2014.

On October 13, 2014, the Company announced an agreement to purchase Specialty Commodities Inc., a leading originator, processor and distributor of healthy ingredients, including nuts, fruits, seeds, legumes and ancient grains, for approximately $170 million subject to regulatory approval. The transaction is expected to close during the fourth quarter of 2014.

On October 31, 2014, the Company announced that it has acquired the processing facilities and certain assets of Harrell Nut Company, one of the country’s leading processors and shellers of pecans, for approximately $89 million.