$362 Million! Corbion Spins off Emulsifier Business to Kingswood

Dutch ingredients producer Corbion has agreed to divest its emulsifiers business to U.S. private equity firm Kingswood Capital Management for $362 million. The transaction is expected to close in the second quarter of this year, subject to the satisfaction of certain conditions, including regulatory approvals.

Corbion explained that the divestment follows the Advance 2025 strategy announced in March 2020, which focuses on further developing the company’s core capabilities in fermentation-based technologies, and Corbion said in a statement that Kingswood has extensive experience in carving out and investing in food and beverage businesses.

With this acquisition, Kingswood will expand its product portfolio with two manufacturing facilities in the United States and approximately 175 employees.

"We are confident that the emulsifiers business will develop well under Kingswood's management and will have strong support from the new owner. I would like to thank my colleagues who have worked hard to develop our emulsifiers business over the years and wish them all the best ." said Olivier Rigaud, CEO of Corbion.

Andy Muller, president of Corbion Sustainable Food Solutions, added: "We believe this transaction matches our customers and employees with the right partners and leadership to help them go further. "

Alex Wolf, managing partner at Kingswood, commented: "Kingswood is delighted to be able to drive this world-class emulsifier business forward and build on its long tradition by continuing to deliver best-in-class service. We are delighted to be working with Corbion to build the largest independent pure-play emulsifier business in North America."

Andrew Kovach, managing director at Kingswood, added: "The unique and important advantages these products offer manufacturers will enable emulsifiers to play a key role in meeting the changing needs of global markets, whether for food or non-food applications."