ConAgra, Cargill and CHS announce joint venture for flour milling

ConAgra, Cargill and CHS agreed to form a new joint venture combining their flour milling businesses. The new company, called Arden Mills, will bring together ConAgra Mills and Horizon Milling, a joint Cargill-CHS venture. ConAgra and Cargill will each own a 44 percent stake in the company, and CHS will own the remaining 12 percent. The formation of Ardent Mills is expected to be complete in late calendar year 2013.