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#4 Cargill to acquire Croda’s bioindustrial business for $1 billion
In the UK, agribusiness giant Cargill has agreed to acquire Croda’s performance technologies and industrial chemicals for €915 million (USD$1 billion) in a deal that dramatically expands Cargill’s footprint in bioindustrial applications.
Cargill will gain nearly 1,000 employees globally, production facilities spread across Europe and Asia, and a “strong technology portfolio” that supports leading market positions in automotive, polymer and food packaging applications. More than two-thirds of the raw materials consumed by the business are biobased.
“The bioindustrial space is a priority for Cargill, as we strive to support our customers with innovative, nature-based solutions that deliver real-world benefits,” says Colleen May, President of Cargill’s Bioindustrial business. “Combining our diverse, global supply chain and deep operational expertise with Croda’s extensive industrial business capabilities and broad bio-based portfolio will spark a new wave of innovation and create tremendous value for our customers.”
The deal is expected to close in summer 2022.
Category: Top Stories
