European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
No Result
View All Result
Home < INDUSTRIES Chemical

Cargill to acquire Croda’s bio-based industrial business, expanding natured-derived solutions for customers

by Alex Weber
December 23, 2021
A A
Share on LinkedinShare on Twitter

LONDON (Dec. 22, 2021) — Cargill has reached an agreement with Croda to acquire the majority of its performance technologies and industrial chemicals business for EUR 915,000,000 (1.03bln USD) on a cash-free, debt-free basis. The investment would dramatically expand Cargill’s bioindustrial 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 bioindustrial 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 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.”

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. Aligning with Cargill’s commitment to sustainability, more than two-thirds of the raw materials used to manufacture these solutions are bio-based and renewable.

Steve Foots, Chief Executive of Croda, said: “Cargill is a company with a distinguished history and strong values. Under its ownership, the divested business and our talented, hardworking employees can look forward to a bright future.”

The Croda acquisition would greatly expand the company’s bioindustrial market presence, especially in Europe, the U.S. and Asia, all high-growth markets for bio-based solutions. This acquisition builds on other recent moves by Cargill to expand its presence in the bioindustrial space, including its QORE and NatureWorks joint ventures’ greenfields, as well as its acquisitions of Floratech and Arkema’s epoxides business. Taken together, these moves leave Cargill well-positioned to support customers with innovative, nature-derived solutions across a broad range of industries and applications.

Tags: < Invest

Related Industries

Chemical

Decarbonization and reduction of energy consumption: Air Liquide to implement an innovative solution for Verallia

March 17, 2023
Chemical

Dominik Risse takes over as head of LANXESS Urethane Systems Business Unit

February 25, 2023
Chemical

BASF and Tenova Advanced Technologies enter into a joint development agreement for efficient recycling of lithium-ion batteries

February 23, 2023
Chemical

UPM Biochemicals and HAERTOL Chemie GmbH announce strategic partnership to develop new sustainable coolants

February 10, 2023
Chemical

Bill Anderson to become CEO of Bayer AG

February 9, 2023
Chemical

MIDO Eyewear show: Arkema to showcase its innovations in Advances bio-circular materials

January 31, 2023

Infineon and UMC extend automotive partnership with long-term agreement for 40nm eNVM microcontroller production

March 8, 2023

...

UBS to acquire Credit Suisse

March 20, 2023

...

L’ORÉAL INVESTS IN BIOTECHNOLOGY VENTURE TO SCALE DEVELOPMENT OF PLANT-BASED INGREDIENTS FOR SUSTAINABLE BEAUTY

March 22, 2023

...

Stellantis and Crédit Agricole Consumer Finance Joint Venture Plans to Acquire Activities of ALD in Portugal and LeasePlan in Luxembourg

March 23, 2023

...

Deutsche Post DHL Group and Poste Italiane announce a strategic partnership in the international parcel market

March 11, 2023

...

European Corporate Development & Strategy Awards

March 9, 2023

...

Danish Carlsberg brewery saves 1 billion litres of water with new technology

March 23, 2023

...

ELC Partners with boom! to Empower Women in Supply Chain in the UK and Worldwide

March 7, 2023

...

Huawei’s Green Target Network and 5G Smart Ocean Projects Win Multiple GTI Awards

March 4, 2023

...

Schneider Electric investing €40 million in new smart factory in Hungary

March 23, 2023

...

Asia Pacific Business Asia Pacific Business Asia Pacific Business

EUROPEAN BUSINESS is a premier source of corporate news, business information and insights across broad spectrum of industries in Europe and worldwide.  We are one of the members of the Business World Network.

RESOURCES

  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

CONTACT US

EDITORIAL:     editor # european-biz.com

PARTNERSHIP:     partnership # european-biz.com

HUMAN RESOURCE:     hr # european-biz.com

* (replace # with @)

  • Official Site

Copyright © EUROPEAN-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © EUROPEAN-BIZ.COM All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist