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Royal DSM, the global Life
Sciences and Materials Sciences company, announced
today that it has reached agreement with Cargill to acquire Cargill's
and enzymes business in an all cash transaction for a total enterprise
EUR85 million. Subject to customary conditions, the transaction is expected
close in the next couple of months. DSM and Cargill announced on 20
2012 they were in exclusive discussions about this transaction.
The cultures and enzymes business of Cargill is a leading global
cultures and enzymes for the dairy and meat industries with manufacturing
operations in Wisconsin (USA) and France. It has a strong pipeline of new
products built on three pillars of technology: culture texture toolbox,
acidification for cheese yield improvements and culture flavor systems. The
business generates net sales of about EUR45 million per year with
The market for cultures and enzymes is valued at over EUR1 billion, growing
steadily at more than 5% per annum. Applications are primarily found in
products which continue to have a healthy and tasty appeal to consumers
worldwide. The growing diversity of dairy products requires versatile
offerings enhancing taste, texture and mouthfeel characteristics as well as
health benefits (lower fat, less sugar, etc.) and convenience.
By combining the cultures and enzymes business of Cargill with the dairy
business of DSM Food Specialties a strong global player will be created,
enabling DSM to propel sales growth as well as capture sizable synergies in
global manufacturing and customer reach as well as innovation capabilities
biotechnology and SG&A.
The combination of the two businesses will allow DSM to achieve its
become a tier one supplier of cultures and enzymes to the global dairy
and will greatly accelerate DSM's growth plans for its business, which
to benefit from consumer demand for more versatile dairy products. The
acquisition further strengthens DSM's global position in dairy ingredients
enzymes, PUFAs, vitamins, cultures, probiotics, bio actives, preservation
systems and tests.
Stephan Tanda, Member of the DSM Managing Board and responsible for the
Nutrition cluster, said: "This is a very important growth enhancing
for our Food Specialties business and fully fits our strategy as we
create value for all stakeholders by providing innovative, sustainable
to the world's greatest current and future challenges".
Hans-Christian Ambjerg, President DSM Food Specialties, commented: "We are
excited about this opportunity to build critical mass and to serve our
faster with more innovative solutions. We look forward to welcoming the
employees with their great knowledge and expertise."
The acquisition of Cargill's cultures and enzymes business is the eighth
acquisition in the Nutrition cluster since DSM announced its corporate
DSM in motion: driving focused growth in September 2010. These acquisitions
an integral part of DSM's strategy for its Nutrition cluster and will
to the current and future growth of DSM's attractive portfolio in health,
nutrition and materials.
DSM - Bright Science. Brighter Living.™
Royal DSM is a global science-based company active in health, nutrition and
materials. By connecting its unique competences in Life Sciences and
Sciences DSM is driving economic prosperity, environmental progress and
advances to create sustainable value for all stakeholders. DSM delivers
innovative solutions that nourish, protect and improve performance in
markets such as food and dietary supplements, personal care, feed,
pharmaceuticals, medical devices, automotive, paints, electrical and
electronics, life protection, alternative energy and bio-based materials.
22,000 employees deliver annual net sales of around EUR9 billion. The
listed on NYSE Euronext. More information can be found at www.dsm.com.
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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.
Source: DSM N.V. via Thomson Reuters ONE
For more information:
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