US co-operative CHS has acquired Israel-based soy ingredients firm Solbar Industries.
The US$133m deal, which was announced yesterday (23 November), is subject to the backing of Solbar shareholders and the approval of anti-trust authorities in certain countries. However, the transaction is expected to be completed in the first quarter of next year.
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Solbar provides soy protein ingredients to manufacturers in the meat, vegetarian, snacks, bakery and confectionery sectors. It has manufacturing facilities in Israel, the US and China.
CHS is owned by farmers, ranchers and co-ops across the US. Earlier this month, CHS posted net income attributable to the company of $206.5m, for its 2011 fiscal year, up from $154.1m the year before.
