DuPont buys out Bunge’s share in Solae joint venture in $440m deal

By Elaine Watson

- Last updated on GMT

Related tags: Nutrition, Solae

DuPont buys out Bunge’s share in Solae joint venture in $440m deal
DuPont has taken full control of soy ingredients giant Solae after buying out Bunge’s stake in their joint venture.

Missouri-based Solae was formed in 2003 via a joint venture between DuPont, which took at 72% stake, and Bunge, which owned the remaining 28%.

DuPont Nutrition & Health President Craig F. Binetti said: "Our customers will benefit from the full ownership of Solae as we can further increase the speed of innovation, food formulation and nutrition science capabilities across a wide range of specialty food ingredients.”

Business as usual for staff at Solae

Asked what the change in ownership would mean for staff, Solae chief executive Torkel Rhenman told FoodNavigator-USA: "At this time, it's business as usual. 

"Solae will continue to focus on delivering high quality, nutritious soy-based ingredients to food, meat and beverage manufacturers around the globe. We will be a critical part of DuPont Nutrition & Health, helping to build a strong food leadership position and bringing solutions to help feed the growing global population."

Bunge chief financial officer Drew Burke said the transaction would enable Bunge to “redeploy capital into our strategic, core businesses”​, adding: "Solae has created great value during the past nine years, and is well-positioned for future success.”

Related news

Show more

Related products

show more

How modern technology boosts quality and compliance

How modern technology boosts quality and compliance

Centric Software | 21-Jul-2021 | Technical / White Paper

Food and beverage production is subject to the rollout of changing regulations like the Food Safety Modernization Act (FSMA), and the recently released...

For optimal plant-based protein products

For optimal plant-based protein products

Innophos, Inc. | 14-Jul-2021 | Insight Guide

Exciting new plant-based ingredients can stimulate product development; however, they can also present some unique formulation challenges. With decades...

New Plant-Based Meat Analogue Technology

New Plant-Based Meat Analogue Technology

Firmenich, the world’s largest privately-owned fragrance and taste company | 16-Jun-2021 | Data Sheet

Firmenich is constantly pushing the boundaries in taste, masking and texture innovation in plant-based applications.

Critical Components to Achieving the Perfect Order

Critical Components to Achieving the Perfect Order

Oracle NetSuite | 24-May-2021 | Technical / White Paper

By achieving the perfect order, merchants will delight customers with the ultimate, omnichannel experience of buy anywhere, fulfill anywhere and return...

Related suppliers

Follow us

Products

View more

Webinars