Corbion will acquire the bread improver business from Novotech Food Ingredients, based in Delhi, India. The deal also grants Indian bakers access to Corbion’s extensive global customer support network.
Corbion is working with manufacturers of corn tortillas to fortify their products with folic acid. At first available for enriched grains, new solutions now also include corn tortillas, to help lower birth defect risks such as spina bifida in infants.
Corbion reported sales worth EUR 1,443.8 million in 2023, an organic increase of 1.2%. According to the year ending December 31, 2023, the company’s operating profit was 117.2 million last year, meaning an organic increase of 20.8%. Its adjusted EBITDA was EUR 191.8 million (10.3% organic increase).
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.
Corbion will highlight the ability of today’s advanced preservative solutions to deliver flavor and other important sensory attributes along with outstanding food safety and shelf life performance.
Enzyme technology developed by Corbion helps lower costs and formula sugar, while expanding shelf-life. Ultra Fresh® Advantage 600 breaks down the long-chain carbohydrates in flour into simpler sugars, adding sweetness to the product, so less sugar and yeast are needed as raw materials.
By utilizing specific product parameters, CNMIM predicts a product’s mold-free shelf life based on real-world testing against 11 different mold strains found on baked goods. The tool compares up to three different natural mold inhibitor formulations, helping bakers better make informed decisions about which solution works best for their product.
For the quarter ending March 31, 2023, Corbion reports net sales of EUR 359.6 million, a 12.3% increase (of which 8.9% organic growth). Corbion’s operating profit in Q1 was EUR 26.9 million – a decline of 10.9%.
Corbion published an updated Climate Action Roadmap, aiming to spark greater collaboration and knowledge sharing among manufacturers worldwide. The roadmap provides a detailed breakdown of actions taken so far, and defines the steps ahead.
How clean-label goods with simple ingredients are maintaining popularity and profit: “I’m going to start eating cleaner.”
