Reuters: Regulatory News: UPDATE 1-ConAgra, Cargill and CHS join together in flour milling

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UPDATE 1-ConAgra, Cargill and CHS join together in flour milling Mar 5th 2013, 14:27 Tue Mar 5, 2013 9:27am EST March 5 (Reuters) - ConAgra Foods Inc, Cargill and CHS Inc on Tuesday said they plan to combine their North American flour milling businesses into a new company called Ardent Mills. Ardent Mills will combine ConAgra Mills and Horizon Milling, a Cargill-CHS joint venture formed in 2002, into a single company serving the baking and food industries. ConAgra and Cargill will each have a 44 percent stake in the joint venture, with CHS owning the remaining 12 percent. All three companies will have representatives on its board. Ardent Mills, which is expected to be formed in late 2013, will operate as an independent joint venture of ConAgra, Cargill and CHS. Horizon Milling President Dan Dye will become chief executive officer of the new company, and the headquarters will be determined later, the companies said in a joint statement.

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