US conglomerate DuPont has refused to be drawn on reports that it and agribusiness giant Bunge are looking to sell their soy products venture Solae.
DuPont and Bunge formed Solae, which makes ingredients for food manufacturers in sectors from bakery to dairy, in 2003.
Go deeper with GlobalData
Bloomberg said yesterday (25 July) that Solae’s management had met potential buyers this month. Two anonymous sources told the news agency that the company could be sold for US$1.4-1.75bn, based on its annual EBITDA of around $180m.
A spokesman for DuPont, which owns a 73% stake in Solae, declined to comment on what he called “rumours and speculation”.
The spokesman also refused to be drawn on Solae’s financial performance ahead of the publication of DuPont’s second-quarter results, which are set to be announced on Thursday.
See Also:
Officials at Bunge could not be reached for immediate comment.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataEarlier this year, DuPont acquired Denmark-based food ingredients maker Danisco in a deal worth $6.44bn.
DuPont chair and CEO Ellen Kullman said at the time that the deal was set to create “an industry leader in industrial biosciences and nutrition and health”.
