DuPont, on May 1, took full ownership of St. Louis-based soy-based ingredients joint venture Solae. DuPont previously owned 72 percent of the joint venture while grain merchant Bunge owned the remainder. Published reports indicate DuPont paid $400 million for the stake.
“DuPont is committed to nutrition and health. This investment in Solae, along with the acquisition of Danisco last year, has significantly added to our leadership position in food ingredients,” said Executive Vice President Jim Borel. “Solae’s scientific expertise and market leadership in soy is a critical element in our plans to enhance the quality and quantity of food for a growing global population.”
“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,” said Nutrition & Health President Craig Binetti.
DuPont plans to integrate Solae and Danisco as part of Nutrition & Health and is looking at other opportunities in that area, according to a DuPont release.