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Danisco Agrees to Buy Rhodia Food Ingredients
COPENHAGEN - Feb 13/04 - SNS -- Danisco has entered an agreement to take over French Rhodia's food ingredients business, excluding the company's food phosphates business.
Rhodia's food ingredients business is a global supplier of cultures, natural texturants, and food protection solutions to food processing companies. The company is present in Europe, North America, Latin America and Asia.
The primary focus areas of the business are: dairy; dessert; beverage and health products; meat and savory; and bakery products. These products are to be integrated into Danisco's global product offering.
The two parties expect to conclude an agreement in the foreseeable future. The transaction will be finalized within the second quarter of the calendar year 2004, once legal authorizations have been obtained.
Rhodia's food ingredients business generated sales of DKK 1.6 billion (EUR 211 million) in 2003 and has 860 employees.
Rhodia's product portfolio complements Danisco's existing core business. The takeover of the above-mentioned Rhodia activities is in line with Danisco's strategic goal to further strengthen the business platform through acquisitions and organic growth above market average.
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