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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