Royal DSM said early Friday that it has reached an agreement with
Minnetonka-based Cargill to acquire Cargill's cultures and enzymes business in
an all-cash deal worth about $109.7 million.
The transaction is expected to close in the next few months.
DSM, a Dutch life and materials sciences company, and Cargill confirmed
in mid-September that they were in talks about the business.
The cultures and enzymes operation forms part of Cargill's global
texturizing business with facilities in Wisconsin and France. The $58 million
business manufactures cultures and enzymes for the dairy and meat industries
and employs about 200 people.
The global market for cultures and enzymes is valued at approximately
$1.3 billion, according to Reuters.
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News Column
Cargill Sells Off Business Unit
Oct. 26, 2012
Janet Moore, Star Tribune (Minneapolis)
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Source: (c)2012 Star Tribune (Minneapolis) Distributed by MCT Information Services
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