Cargill to acquire Croda’s bio-based industrial business
According to the company, 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.
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 market positions in automotive, polymer and food packaging applications.
“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.”