Corbion signed an agreement with private equity firm Kingswood Capital Management for the sale of Corbion’s emulsifier business. Based in Los Angeles, Kingswood will acquire the emulsifier business from Corbion for USD 362 m. The transaction comprises, amongst other assets, two US-based manufacturing plants and around 175 employees. The transaction is expected to close in the second quarter of this year.
The sale, which has to meet certain conditions, including regulatory approvals, will allow Corbion to focus on fermentation-based technologies. It follows the company’s Advance 2024 strategy, announced in March 2020, focusing on further growing a set of core competencies built around fermentation.
“Corbion takes immense pride in its heritage as a pioneer and leader in the emulsifier industry, and we appreciate the dedicated employees and loyal customers who contributed to this successful chapter in our history,” said Andy Muller, President of Sustainable Food Solutions at Corbion. “We believe this deal matches our customers and employees with the right partners and leadership to help take them even further,” he added.
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