According to recent international reports, German specialty chemicals firm Degussa has reached an agreement to sell its food additive division to U.S. agribusiness giant Cargill for $670 million. The business includes key products such as food bulking agents, flavor enhancers, and bioactive ingredients. Last year, the unit generated roughly $545 million in revenue. The deal still needs approval from Degussa’s Supervisory Board and relevant regulatory bodies before it can be finalized.
Degussa first announced its exit from the food additive market back in October of last year, and since February this year, it has been actively divesting parts of its business. Earlier this year, it sold its fruit additive division—worth around $80 million annually—to a private equity firm.
Cargill, one of the largest privately held agricultural companies in the U.S., claims this acquisition marks the biggest deal in its history since 2002. The company's CEO stated that acquiring Degussa’s food additives division will strengthen Cargill’s position as a global leader in specialty food and beverage additives, allowing it to better serve its clients worldwide.
This move reflects a broader trend among chemical companies to step back from the food additive sector. In 2022, ICI and Rhodia both sold their respective food additive businesses to Kerry Group and Danisco. This year, DSM also exited its fermentation business, though it retained its food additive operations. As the industry continues to evolve, strategic acquisitions like this are becoming more common, driven by shifting market demands and corporate restructuring efforts.
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