{{featured_button_text}}
Meda Pharmaceuticals 1 3.23.17

Archer Daniels Midland Co. has purchased the former Meda Pharmaceuticals manufacturing facility at 705 E. Eldorado St. in Decatur.

DECATUR — Archer Daniels Midland Co. has purchased the former Meda Pharmaceuticals manufacturing facility in Decatur.

ADM spokeswoman Jackie Anderson said the company closed on a contract to purchase the building on Tuesday, and it will be used to “expand and develop our portfolio of specialty ingredients and products as we continue to grow that aspect of our business.”

Anderson described specialty ingredients as an umbrella term to cover a range of different products for human and/or animal nutrition. The company's specialty ingredients portfolio includes such products as hydrocolloids, lecithin, omega-3 solutions, probiotics, polyols, texturants and soluble fibers, according to a news release.

“Today’s consumers are more aware of their individualized health and wellness needs. As a result, there’s a high demand for functional food and beverage products in the marketplace,” said Fabiana Bianchi, ADM vice president, Marketing and Growth, prior to the 2018 SupplySide West Show last month in Las Vegas. “ADM understands these challenges and has assembled the industry’s most comprehensive ingredient portfolio to help food and beverage developers meet this demand. By leveraging our research-backed understanding of consumers’ expectations for taste and nutrition, we can help developers reach delicious and personalized solutions that meet the needs of their brands and consumers’ expectations.”

The company has made several moves in recent years to advance this portion of its business, including the announced acquisition of Probiotics International Limited in August.

No other information about the purchase was available.

Meda Pharmaceuticals to close Decatur facility

Meda Pharmaceuticals wrapped up operations in Decatur in June after announcing in March 2017 that it would be closing its Decatur plant at 705 E. Eldorado St.

The announcement came in the wake of the company being purchased in 2016 by Pennsylvania-based Mylan.

ADM 3Q income of $536 million exceeds analysts' expectations

"The decision to close the (Decatur) site comes after a careful assessment of bringing the two businesses (Meda and Mylan) together as part of our integration process and is consistent with our ongoing efforts to operate our businesses as efficiently as possible," Mylan spokeswoman Lauren Kashtan said at the time of the announcement.

The plant, which employed 90 people, can trace its roots back to Wallace Laboratories, which started in Decatur in 1979.

Chris Harrison and Zane Peterson of Main Place Real Estate in Decatur and Mike Nelson of JLL of Pittsburgh, Pennsylvania were the co-brokers on the property, which went on the market in January.

Harrison said there was a lot of interest shown from potential building users and liquidators who were interested in the equipment it contained.

“We are pleased to have helped Mylan with the timely disposition of the asset,” Harrison said. “We are especially happy that ADM saw the value in the capabilities of this facility and invested in the Decatur community. This will bring activity to the plant and vibrancy to this part of Eldorado.”

“It's exciting to see the investment in standing structures and buildings like this one, especially along Eldoradao Street, one of our major business corridors,” said Ryan McCrady, president of the Economic Development Corporation of Decatur and Macon County. “I believe this is just another sign that the business opportunities in Decatur are continuing to grow and we greatly appreciate ADM's additional investment in our community.”

The purchase of the Meda building expands ADM's footprint around downtown Decatur, which is already home to the ADM City Centre and its Global Technology Center. In both cases, the company moved into mostly empty buildings.

“Anytime you can get an existing building used, it's a good thing for a number of reasons,” McCrady said. “The roads to those buildings are usually already in place. The public resources they need, things like water, sewer and utilities, are already in place. That's a very good thing for the community.”


Decatur-area business openings and closings

Subscribe to Daily Headlines

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Contact Scott Perry at (217) 421-7976. Follow him on Twitter: @scottperry66

0
0
0
0
0

Deputy Night Editor

Deputy night editor for Lee Enterprises Central Illinois.

Load comments