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September 16, 2011

US: DuPont, Bunge “studying options on Solae”

The owners of soy ingredients maker Solae have reportedly started to examine the options for the business.

By Dean Best

The owners of soy ingredients maker Solae have reportedly started to examine the options for the business.

Mark Vergnano, executive vice president at US chemicals group DuPont, told Bloomberg that the company and fellow shareholder Bunge, the agribusiness giant, was weighing up the future of Solae.

Vergnano said one of the options being explored was a sale of Solae, which the two companies set up in 2003.

“The process is in flight right now. It could end up in a sale of the unit,” he told Bloomberg on Wendnesday (14 September). However, Vergnano also insisted the venture could continue, the report said.

When contacted by just-food, a spokesperson for DuPont, which owns 73% of Solae, refused to be drawn on the report. “We have no comment on rumors or speculation,” he said yesterday.

Last month, ingredients companies Tate & Lyle and DSM, plus private-equity firms including KKR, made offers for Solae, Bloomberg reported, citing sources.

Solae, which is based in the US city of St Louis, makes ingredients for food manufacturers in sectors including the bakery and dairy industries.

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