ADM acquires Solae's isoflavone business

17/02/05 Archer Daniels Midland Company has acquired The Solae Company's global soy isoflavone business, which includes an extensive portfolio of US patents, numerous foreign equivalents, and pending applications. As part of the acquisition, Solae will exit the soy isoflavone business. ADM will now supply Novasoy soy isoflavones to Solae's former customers to help provide a seamless transition.

The isoflavone acquisition follows a settlement reached in an isoflavone concentrate patent infringement that Solae filed in 2003 against Archer Daniels Midland Company and Amerifit Nutrition, Inc. According to the terms of the settlement, ADM agreed to purchase The Solae Company’s global isoflavone concentrate business including The Solae Company’s extensive isoflavone concentrate patent portfolio for an undisclosed amount. The Solae Company originally filed suit against ADM and Amerifit in June 2003 in the Federal District Court of Eastern Missouri asserting that products marketed by both companies directly infringed on certain patent rights of The Solae Company.

“The Solae Company is pleased with this settlement,” said Paul M. Graham, vice president, new business development for The Solae Company. “The patent estate on which the settlement is based was a strategic investment for The Solae Company. It provides an outstanding return on investment, which will enable us to focus on our core strength as a global innovator in technology development and the research and application of soy protein and other characterizing ingredients.”l