World Food Processing Acquires Soylink from Poet

The purchase of the Soylink Assets, which is to be renamed World Food Ingredients and will operate as a wholly owned subsidiary of World Food Processing L.L.C. further advances World Foods objectives of providing a complete line of identity preserved food grade ingredients to the global market.

16/07/09 World Food Processing, L.L.C. announced that it has successfully completed a purchase agreement with Poet L.L.C. for their interests in SoyLink L.L.C. SoyLink’s refined powder products are recognized as the highest quality in the world. Its products currently form the base ingredients used by some of the leading food companies in the world and in some of the world’s best soy foods. Soylink, located in Oskaloosa, Iowa USA has built markets for its powders in North American domestically produced food products as well as those in Asia, Europe and South America. The unique characteristics, quality, flavor profiles and mesh sizes, along with Soylink’s ability to offer organic or variety specific soy powders or beans flours clearly differentiates Soylink products from it competitors.

The purchase of the Soylink Assets, which is to be renamed World Food Ingredients and will operate as a wholly owned subsidiary of World Food Processing L.L.C. further advances World Foods objectives of providing a complete line of identity preserved food grade ingredients to the global market. In announcing the purchase World Food Processing L.L.C. President Mr. Jerry Lorenzen commented that ‘the combination of proprietary technologies, formulations, and recipes obtained through this acquisition will enhance the World Food Group of Companies in its ability to provide our global clients with a full line of Soy related ingredients which will now span everything from raw whole soybeans to grit and fine mesh powders, which are recognized as the best in the world. This acquisition goes a long way in securing that there will be a high grade consistent supply of non GMO food grade ingredients well into the future”.

World Food expects the seamless transition and integration of technologies to commence immediately and importantly without any significant interruption in the high quality service and delivery of product to the existing and expanding global customer base. Lorenzen added, “I felt the acquisition of these Assets were integral for our business model and the objectives that we have set for World Food Processing. In no small part we have to look to Poet Energy and their President Jeff Broin in particular for the vision and commitment that he had in building this facility and evolving it into what it is today.”

Poet’s willingness to maintain its continued involvement in ownership of the proprietary technology of the business reinforces a positive future for the sector. The most significant challenges that face the world today and into the future all relate to the shortage of energy, whether that is mechanical energy or human energy. To have Poet, the leading renewable energy company in the United States, maintain their commitment to seek out solutions for both sectors sets them apart from their competitors.”