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BASF to sell Food & Health Performance Ingredients business to Louis Dreyfus Company
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Wednesday, 15 January, 2025, 08 : 00 AM [IST]
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Illertissen, Germany
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BASF has signed a binding agreement to sell its Food and Health Performance Ingredients business, including the production site in Illertissen, Germany, to Louis Dreyfus Company (LDC), a leading global merchant and processor of agricultural goods including high-quality, plant-based ingredients. Its portfolio plays a vital role in addressing growing trends in human nutrition. However, the business has limited synergies and integration, and is no longer a strategic focus area.
As part of the agreement, approximately 300 employees are expected to transfer from BASF to LDC as of the closing of the transaction. Both parties have agreed not to disclose financial details of the transaction. Continuous and reliable supplies and business relationships will not be impacted by this transaction.
Michael Heinz, member of the board of executive directors of BASF SE and responsible for the Nutrition & Health division, said, “Building on our teams’ success to develop this business very well over the last years, LDC as a future-oriented company can offer our employees and the portfolio a promising perspective. The divestment of this business to LDC supports our strategic portfolio optimisation and will allow us to focus on our core businesses in Nutrition & Health. We remain committed to leveraging our core product platforms and expanding our business in key areas such as vitamins, carotenoids and feed enzymes.”
Michael Gelchie, LDC’s chief executive officer, said, “In line with LDC’s strategic plans for revenue diversification through more value-added products and growth in downstream markets, this agreement is an opportunity to accelerate LDC’s participation in the rapidly growing plant-based ingredients market. We are excited about the prospect of this transaction, as LDC’s first investment in dedicated facilities to produce food and health performance ingredients at scale.”
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