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Horizon Milling is the largest U.S. milling company as measured by production capacity, followed by ADM Milling and ConAgra Mills, according to the 2013 Grain & Milling Annual, compiled by Sosland Publishing Co. of Kansas City, Mo. Horizon has a daily capacity of 290,500 hundredweight, compared with 281,100 hundredweight for ADM Milling and 255,100 hundredweight for ConAgra Mills, the report says. The total combined capacity of Horizon Milling and ConAgra Mills would give Ardent Mills a 34 percent share of the U.S. total of 1.6 million hundredweight, compared with 18 percent for ADM Milling. "It's not about getting bigger, it's about serving customers better," Cargill spokeswoman Lisa Clemens said. She added that "there are about 25 major milling companies so it's a very competitive business," ConAgra Foods' brands include Banquet and Chef Boyardee. Cargill, based in Minnetonka, Minn., is a producer and marketer of food, agricultural, financial and industrial products and services. Arden Hills, Minn.-based CHS is an agribusiness owned by farmers, ranchers and cooperatives across the U.S. The companies expect to receive cash distributions from Ardent Mills at closing. Total proceeds are estimated to be between $800 million and $1 billion. All three companies will have representation on the Ardent Mills board. Ardent Mills will be run as a joint venture, with Dan Dye serving as its CEO once the new company is formed. Dye is currently president of Horizon Milling. ConAgra Mills President Bill Stoufer will become Ardent's chief operating officer and chief integration officer. Ardent Mills' headquarters will be determined at a later date. Its formation is expected to be finished later this year. ConAgra Foods shares rose 4 cents to close at $34.73 after rising as high as $34.95 earlier in the session to its highest level since Aug. 1997.
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