‘Billion dollar deal’ was not a phrase bandied about the food ingredients industry much last year. With BASF buying Cognis for €3.1bn and Corn Products International paying $1.3bn for National Starch, M&A looks to be thawing – but best not get over-excited...
The planned acquisition of National Starch will launch Corn Products into Europe, and give it more leverage when dealing with five or six major food manufacturers that aim to cater to global tastes.
Corn Products International has again reported strong growth, with
its third quarter results reflecting a continued good performance
from its North American business.
Corn Products International said on Wednesday that it expects
first-quarter diluted earnings per share (EPS) to decline 35
percent to 40 percent from the first quarter of 2004.
Food ingredients and syrups manufacturer Corn Products
International said on Tuesday that fourth-quarter profit fell 41
percent as a result of restructuring in Mexico and South America.
Burgeoning ingredients firm Corn Products International will drive
harder into the nutritional ingredients market signing on a deal to
acquire a 75 per cent stake in prebiotic supplier GTC Nutrition.
Sales for US food ingredients company Corn Products International
were on target for the first quarter of 2003 ended 31 March 2003
with the company announcing on Tuesday that sales had risen 23 per
cent, lifting earnings and increasing...
