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Wayzata, MN – June 6, 2006 Cargill "Accelerator" partnership formed Wayzata, MN June 6, 2006 - Andcor Companies Inc., the venture catalyst for Minnesota's growth companies, is pleased to announce the signing of a partnership agreement with Cargill's Emerging Business Accelerator (EBA) to help build its executive management teams. In 2004, Cargill top management formed the Cargill EBA as a part of its overall strategic intent to transform itself from a commodities trader into a customer-solutions company. Cargill's EBA is an "intrapreneurial" investment fund that works with strict adherence to time-to-market and capital efficiency where ideas that work are advanced to commercialization and ideas that don't meet swift death. "The goal is to create independent business units within Cargill that can immediately contribute to the bottom line, said David Patchen, EBA's managing director." The EBA model is to have an internal pipeline of 15-20 projects at any given time that compete for resources and funding at a rate of 6-8 per year. Consistent with the EBA's speed-to-market mantra, Andcor has already completed executive search projects for two separate business concepts in the pulp & paper additives and agrifood process automation markets. "Andcor's unparalleled network and experience in identifying people that will be successful in an emerging company are highly complimentary to the 'accelerator' business model. We're delighted to be working in partnership with the Cargill EBA," said Dennis Anderson, founder/principal of Andcor. About Cargill EBA Cargill EBA's mandate is to help accelerate Cargill's growth by building a global portfolio of new business opportunities with the potential to generate revenue within three years and to become new Cargill Business Units. Ultimately, the goal is for these businesses to graduate into the broader world of Cargill. Cargill EBA is based in Minnetonka, Minnesota. It is a business unit of Cargill, www.cargill.com, an international provider of food, agricultural and risk management products and services. With 142,000 employees in 61 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed. Additional information about Cargill is available at www.cargill.com. |
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