The investment would dramatically expand Cargill’s bio-industrial footprint to better serve industrial manufacturers searching for ‘greener’ ingredient solutions.
Cargill has reached an agreement with Croda to acquire the majority of its performance technologies and industrial chemicals business for €915,000,000 ($1.03 billion) on a cash-free, debt-free basis. The investment would dramatically expand Cargill’s bio-industrial footprint to better serve industrial manufacturers searching for “greener” ingredient solutions.
The transaction, which is subject to regulatory approvals, is expected to close in Summer 2022. Cargill will comply with applicable information and consultation requirements with our employee representative bodies.
“The bio-industrial space is a priority for Cargill, as we strive to support our customers with innovative, nature-based solutions that deliver real-world benefits,” said Colleen May, President of Cargill’s Bio-industrial 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.”
Under the agreement, Cargill would gain nearly 1,000 employees around the world and production facilities spread across Europe and Asia, along with a strong technology portfolio that supports leading market positions in automotive, polymer and food packaging applications.
The Croda acquisition would greatly expand the company’s bio-industrial market presence, especially in Europe, the US and Asia, all high-growth markets for bio-based solutions.
