According to recent international reports, German specialty chemicals company Degussa has reached an agreement to sell its food additive division to Cargill for $670 million. The business includes key products such as food bulking agents, flavoring compounds, and bioactive ingredients. Last year, the division 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 intention to exit 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 agricultural companies in the U.S., is a privately owned joint-stock corporation. It claims this acquisition marks the biggest deal in its history since 2002. According to Cargill’s CEO, acquiring Degussa’s food additives division will strengthen its position as a leading provider of specialty ingredients, offering a wide range of solutions to global food and beverage manufacturers.
In recent years, several major chemical companies have been stepping back from the food additive sector. In 2022, ICI and Rhodia sold their respective food additive businesses to Kerry Group and Danisco. This year, DSM also exited its fermentation business, though it kept its food additive operations intact. This trend reflects a broader shift among chemical firms toward more specialized or high-margin sectors, while focusing on core competencies.
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