Danisco Acquisition of Abitec Ltd. Approved
The acquisition of Abitec ties in with Danisco’s strategic target of creating value through organic and acquisitive growth and confirms the company’s long-term commitment to the emulsifier market.
16/07/08 Danisco has obtained final approval from the EU competition authorities for the acquisition of the shares in UK-based emulsifiers producer Abitec Ltd.
In January 2008, Danisco signed the agreement conditional upon approval from the appropriate competition authorities. The agreement will be formalised on 29 August 2008.
‘We are very pleased that the competition authorities have now approved Danisco’s acquisition of Abitec. It will give us an excellent opportunity to combine Abitec’s and Danisco’s strengths in the emulsifier area,’ says Martin Klavs Nielsen, head of Danisco's Emulsifiers business.
The acquisition of Abitec ties in with Danisco’s strategic target of creating value through organic and acquisitive growth and confirms the company’s long-term commitment to the emulsifier market.
‘By strengthening our position within emulsifiers we are well-positioned to meet the increasing demands of customers. We are eager to commence the integration process and will do everything we can to make it as smooth for the customers as possible,’ says Martin Klavs Nielsen.
Abitec Ltd. is situated in Northampton, UK, with a production plant employing 55 persons and generating revenue of around DKK 200 million. Abitec Ltd. is currently part of the Ingredients division of Associated British Foods plc and supplies emulsifiers and medium-chain triglycerides (MCT) mainly to the European market.
Abitec Ltd. produces a range of emulsifiers applied by the nutritional, cosmetic, personal care and food markets. Its food emulsifiers provide many essential functions in a wide range of food applications such as bread, ice cream, margarine and dairy products.
Danisco A/S has agreed to sell Danisco Sugar A/S to Nordzucker AG for an enterprise value of DKK 5,600 million (750 million euros, 1.2 billion dollars).
