05.02.12
DuPont has acquired from Bunge full ownership of the Solae, LLC joint venture, a soy-based ingredients leader. DuPont previously owned 72% of the joint venture while Bunge owned the remaining 28%. Headquartered in St. Louis, Missouri, USA, the company was formed through a joint venture between DuPont and Bunge in 2003.
“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 James C. Borel, DuPont executive vice president. “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 Craig F. Binetti, DuPont Nutrition & Health president. “Our long-term segment financial targets are to post sales of 7-9% CAGR and expand pre-tax earnings margins to a range of 12-14%. With full ownership of Solae, DuPont anticipates delivering toward the upper end of our margin targets with the planned synergies.”
“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 James C. Borel, DuPont executive vice president. “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 Craig F. Binetti, DuPont Nutrition & Health president. “Our long-term segment financial targets are to post sales of 7-9% CAGR and expand pre-tax earnings margins to a range of 12-14%. With full ownership of Solae, DuPont anticipates delivering toward the upper end of our margin targets with the planned synergies.”